Location: Fort Lauderdale, FL | Metro: Fort Lauderdale, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,850 |
| 1 Bedroom | $2,000 |
| 2 Bedrooms | $2,440 |
| 3 Bedrooms | $3,330 |
| 4 Bedrooms | $3,850 |
| 5 Bedrooms | $4,466 |
| 6 Bedrooms | $5,002 |
| 7 Bedrooms | $5,402 |
| 8 Bedrooms | $5,672 |
U.S. Census Bureau data (2024)
The rent math in ZIP 33351, which includes Sunrise and parts of Fort Lauderdale, Florida, is nearly balanced. The Fair Market Rent (FMR) set at $2270 for FY 2024 is slightly below the market rent, indicated by ZORI at $2,336. This suggests that properties priced at the FMR level will remain competitive, though they may not capture the full market potential.
Acquisition in this area is relatively affordable. With a median home value of $367,730, the entry barrier for investment properties is moderate. Additionally, the average days on market (DOM) of 50 days indicates a brisk pace of sales, suggesting liquidity and a steady interest in the housing market. The low 0.2% price-cut share further supports the notion that sellers can maintain their asking prices, implying strong seller's market conditions.
Tenant demand is robust. The ZIP code has a population of 36,364, with 44.4% of residents being renters. This high percentage of renters points to a healthy market for rental properties, indicating that there is sufficient demand to support the rental units available in the area.
In conclusion, ZIP 33351 presents a viable opportunity for real estate investment. While the rent math shows a minor gap between the FMR and market rates, the affordability of acquisitions and the strong tenant demand make it a promising location. Investors can expect competitive rents and a market that supports both property values and timely sales, ensuring a steady stream of potential tenants and buyers.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
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.