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 | $890 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,430 | $310,010 | 0.46% | F |
| 4BR | $1,650 | $364,564 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 33430 presents a significant opportunity for landlords and small-portfolio investors looking to attract Section 8 tenants. With a population of 19,796, over 60.8% of residents are renters, indicating a robust tenant market. This high percentage of renters suggests that there is a substantial demand for rental housing, which aligns well with the potential for Section 8 voucher holders.
The median household income in ZIP 33430 is $46,523, and the average market rent is $890. To put this into perspective, the typical rent eats up approximately 20.4% of the local median income. This figure is calculated by taking the average monthly rent and dividing it by the annual median income, then multiplying by 100 to get the percentage. The Federal Market Rent (FMR) for FY 2024 is set at $1070, providing a benchmark for what the government considers reasonable for the area.
The discrepancy between the market rent ($890) and the FMR ($1070) indicates that landlords could potentially receive higher rent payments through Section 8 vouchers, which would cover the difference between the market rate and what the tenant can afford based on their income. Given the median income and the FMR, a landlord in 33430 should anticipate tenants who are likely to be receiving some form of rental assistance, as the average rent is already below the FMR threshold.
The expected tenant profile in this ZIP code includes individuals and families who rely on Section 8 vouchers to meet their housing needs. These tenants are typically low-income residents who cannot afford the average market rent without financial aid. Landlords should prepare for a steady stream of applications from those seeking affordable housing options, making it a favorable environment for properties that qualify under the Section 8 program.
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.