Section 8 Fair Market Rent (FMR) for ZIP 33414 - 2027

Investment Score for ZIP 33414

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,430
1 Bedroom	$2,560
2 Bedrooms	$2,990
3 Bedrooms	$3,890
4 Bedrooms	$4,480
5 Bedrooms	$5,197
6 Bedrooms	$5,821
7 Bedrooms	$6,287
8 Bedrooms	$6,601

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$2,560	$180,607	1.42%	A
2BR	$2,990	$363,717	0.82%	C
3BR	$3,890	$539,951	0.72%	D
4BR	$4,480	$717,708	0.62%	D
5BR	$5,197	$979,449	0.53%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 33414 (Wellington, FL) #### Section 8 Voucher Dynamics In ZIP code 33414, the Fair Market Rent (FMR) for a two-bedroom unit is set at $2,860 per month for 2026. This amount represents 30.6% of the median household income in the area, which is $112,241. The FMR is intended to reflect the maximum rent that a household can afford while still spending no more than 30% of their income on housing. However, the actual rental market in Wellington is significantly higher than the FMR. For instance, the Zillow median price for a two-bedroom home is $364,455, translating to a monthly mortgage payment well above the FMR if financed through traditional means. The price-to-FMR ratio for a two-bedroom unit is 10.6x, indicating that the median home value is approximately 10.6 times the FMR. This suggests that the rental market is highly inflated compared to the FMR, creating significant constraints for voucher holders. They would likely struggle to find properties that accept Section 8 vouchers due to the high cost of living and the limited number of units available within the FMR range. #### Affordability & Renter Profile ZIP code 33414 has a population of 60,184, with 26.1% of residents being renters. The occupancy rate stands at 89.1%, suggesting a relatively tight rental market. Given the high median household income and the fact that only 26.1% of residents are renters, it is reasonable to infer that the typical renter in this area is likely to be a middle-class individual or family who can afford higher rents but may still benefit from the affordability offered by Section 8 vouchers. Despite the relatively high income levels, the rental market is constrained by the high median home values and the low percentage of renters. This implies that there is a significant demand for affordable housing, but the supply is limited. Consequently, the market is likely to be competitive for both renters and landlords, with many units priced well above the FMR. #### Investor Angle From an investor’s perspective, the ZIP code 33414 presents a challenging environment for cash flow-positive investments based solely on FMR. The FMR for a two-bedroom unit is $2,860, which is far below the median rental rates in the area. To determine if this ZIP code is cash flow positive at FMR, we need to consider the typical rental prices and the potential for finding tenants willing to pay FMR. Given the high median home value and the tight rental market, it is unlikely that investors will find many units renting at the FMR. Instead, they would have to compete with other landlords offering higher rents. The investment grade for this ZIP code would be considered low due to the limited availability of units within the FMR range and the high competition for rentals. #### Specific Actionable Insights 1. **Focus on Multi-Family Properties**: Investors should focus on multi-family properties where the economies of scale might allow them to offer rents closer to the FMR. For example, a two-bedroom unit renting at $2,860 could be feasible in a larger complex where management costs are spread across multiple units. 2. **Consider Renovation Projects**: Investors could consider purchasing older properties that are currently renting below the FMR and renovating them to meet modern standards. This approach could potentially attract tenants who are eligible for Section 8 vouchers without compromising on profitability. 3. **Engage with Local Housing Authorities**: Building relationships with local housing authorities can help investors understand the dynamics of the Section 8 program in Wellington. This knowledge can be used to structure deals that are attractive to voucher holders while ensuring that the investment remains profitable. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 33414 is to **skip** this market. The high median home values and the tight rental market make it difficult to find properties that can be rented at the FMR. Additionally, the limited number of renters and the high competition for rentals suggest that the investment grade is low. Investors looking for cash flow-positive opportunities should consider other ZIP codes with more favorable conditions for Section 8 vouchers.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.