Section 8 Fair Market Rent (FMR) for ZIP 33329 - 2027
Location: Fort Lauderdale, FL | Metro: Fort Lauderdale, FL HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,760 |
| 1 Bedroom | $1,900 |
| 2 Bedrooms | $2,320 |
| 3 Bedrooms | $3,170 |
| 4 Bedrooms | $3,660 |
| 5 Bedrooms | $4,246 |
| 6 Bedrooms | $4,756 |
| 7 Bedrooms | $5,136 |
| 8 Bedrooms | $5,393 |
To determine if a landlord should invest in ZIP code 33329 for Section 8 properties, follow this decision tree:
- Does the FMR of $2100 cover debt service on a property?
- Yes: Proceed to the next question. If the Fair Market Rent (FMR) can cover the total monthly cost including mortgage, taxes, insurance, and maintenance, then the property is financially viable under Section 8.
- No: Do not invest. The FMR is too low to support the financial obligations associated with the property.
- Is the market rent above, at, or below the FMR of $2100?
- Above: It depends on the difference. If market rents significantly exceed the FMR, landlords might miss out on higher returns by focusing solely on Section 8. However, if the difference is minimal, Section 8 could still be a competitive option.
- At: Yes. This indicates that the market rent aligns closely with the FMR, making Section 8 a solid choice for landlords looking for stable rental income.
- Below: Yes. When market rents are below the FMR, Section 8 can provide a reliable source of income that exceeds what might be obtained from regular market tenants.
- Are there enough renters and is the Days on Market (DOM) sufficient?
- N/A% renters + N/A-day DOM: Insufficient data. To make a clear decision, we need specific percentages of renters and the average DOM. These metrics will help assess whether there's adequate demand for Section 8 units in the area.
The viability of investing in ZIP 33329 for Section 8 properties hinges on these factors. Without specific percentages of renters and the exact number of days on market, it's challenging to definitively recommend an investment. However, if the FMR of $2100 sufficiently covers the debt service and aligns well with or exceeds the market rent, then the area shows potential for Section 8 investments.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.