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 | $2,100 |
| 1 Bedroom | $2,210 |
| 2 Bedrooms | $2,580 |
| 3 Bedrooms | $3,350 |
| 4 Bedrooms | $3,870 |
| 5 Bedrooms | $4,489 |
| 6 Bedrooms | $5,028 |
| 7 Bedrooms | $5,430 |
| 8 Bedrooms | $5,702 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,210 | $166,398 | 1.33% | A |
| 2BR | $2,580 | $275,712 | 0.94% | C |
| 3BR | $3,350 | $414,283 | 0.81% | C |
| 4BR | $3,870 | $482,893 | 0.8% | C |
U.S. Census Bureau data (2024)
The ZIP code 33426, located in Boynton Beach, FL, presents a dynamic rental market with clear indicators of how supply and demand interact. The Fair Market Rent (FMR) for the area stands at $2480 for fiscal year 2024, while the Zillow Observed Rent Index (ZORI) shows a slightly lower average market rent of $2,331. This suggests that the actual market rents are slightly below the government's benchmark, which could indicate a slight oversupply of units or competitive pricing strategies among landlords.
A further insight into the market balance comes from the price-cut share, which is currently at 0.2%. This low figure implies that very few properties are being discounted, indicating that landlords are generally able to maintain their asking rents without significant concessions. Coupled with a days-on-market (DOM) figure of 40 days, it becomes evident that rental properties are moving relatively quickly once listed, suggesting that demand is robust enough to absorb the available supply efficiently.
The median home value in the area is $336,019, which can be compared against the average rental prices to gauge affordability and desirability. Given the relatively low ZORI and the quick turnover of rental listings, it appears that the rental market is strong, likely due to a mix of economic factors and population growth.
The 36.7% renter share in ZIP 33426 highlights a significant portion of the population that relies on rentals for housing. This high percentage suggests ongoing long-term housing pressure, as a substantial number of residents are not in a position to purchase homes, either due to financial constraints or preference. For landlords and small-portfolio investors, this means a consistent demand for rental properties, as long as they remain priced competitively within the market.
In summary, the market in ZIP 33426 leans towards demand keeping pace with supply, if not slightly outpacing it. The low price-cut share and quick DOM times indicate a healthy rental market where landlords can maintain their rents without significant discounts. The high renter share points to sustained pressure on the rental sector, making it a viable investment option for those looking to capitalize on the local housing dynamics.
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.