Location: West Palm Beach-Boca Raton, FL | Metro: West Palm Beach-Boca Raton, FL HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,950 |
| 1 Bedroom | $2,050 |
| 2 Bedrooms | $2,400 |
| 3 Bedrooms | $3,120 |
| 4 Bedrooms | $3,600 |
| 5 Bedrooms | $4,176 |
| 6 Bedrooms | $4,677 |
| 7 Bedrooms | $5,051 |
| 8 Bedrooms | $5,304 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,050 | $75,929 | 2.7% | A+ |
| 2BR | $2,400 | $164,343 | 1.46% | A |
| 3BR | $3,120 | $402,884 | 0.77% | D |
| 4BR | $3,600 | $478,412 | 0.75% | D |
U.S. Census Bureau data (2024)
141,254 represents the median home value in ZIP code 33417, Century Village, FL, indicating a moderate housing market. 40.9% is the proportion of renters in this area, which is relatively high and suggests strong demand for rental properties. The $1,962 market rent (ZORI) highlights the average monthly rent that tenants can afford, making it a key figure for setting competitive rental prices. In comparison, the $2020 Fair Market Rent (FMR) for the same zip code is slightly higher, reflecting government standards for affordable housing. This difference between ZORI and FMR provides insight into the balance between market conditions and federal guidelines.
The 82-day Days on Market (DOM) statistic reveals that properties typically take about two and a half months to sell, suggesting a steady but not overly rapid sales pace. Meanwhile, the 0.2% price-cut share indicates that very few sellers are forced to reduce their asking prices, which could imply a seller's market or at least a stable one. With a median income of $51,605, potential residents have a solid financial foundation, though it's important to note that this income level might not fully cover the average market rent without assistance programs like Section 8.
To conclude, the data paints a picture of a balanced rental market in Century Village, FL, with moderate home values and a significant renter population. The slight gap between the ZORI and FMR figures suggests that while some tenants may find the market rents challenging, the availability of Section 8 subsidies can bridge this gap effectively. Given these factors, investing in properties that qualify for Section 8 in this area is a prudent decision, as it aligns well with tenant affordability and ensures a stable income stream.
Verdict: Section 8 is viable in Century Village, FL.
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.