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 | $1,600 |
| 1 Bedroom | $1,680 |
| 2 Bedrooms | $1,970 |
| 3 Bedrooms | $2,560 |
| 4 Bedrooms | $2,950 |
| 5 Bedrooms | $3,422 |
| 6 Bedrooms | $3,833 |
| 7 Bedrooms | $4,140 |
| 8 Bedrooms | $4,347 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,680 | $78,998 | 2.13% | A+ |
| 2BR | $1,970 | $146,405 | 1.35% | A |
| 3BR | $2,560 | $792,582 | 0.32% | F |
| 4BR | $2,950 | $1,249,951 | 0.24% | F |
| 5BR | $3,422 | $2,163,074 | 0.16% | F |
U.S. Census Bureau data (2024)
The market in ZIP 33434, Boca Raton, FL, reveals a dynamic equilibrium between supply and demand. With a Fair Market Rent (FMR) of $1860 for the fiscal year 2024 and a market rent, as indicated by ZORI, at $2,858, there is a significant gap favoring higher rental prices. This suggests that the local rental market is robust, with demand potentially exceeding supply.
The low price-cut share of 0.2% indicates that landlords and property owners are maintaining their asking prices without resorting to significant discounts. Additionally, the Days on Market (DOM) figure of 37 days is relatively short, which points to quick turnover and strong interest in available properties. The median home value stands at $228,383, which is notably lower than the average rental rates, hinting at an affordable housing environment that could attract more renters.
The 21.8% renter share in the area signals a growing but still manageable long-term housing pressure. While it is not a majority, this percentage suggests that a considerable portion of the population relies on rentals, which can contribute to sustained rental demand. In such a market, rental properties remain attractive to investors due to consistent occupancy rates and competitive rental values.
To summarize, the market in ZIP 33434 presents itself as one where demand is closely matching or slightly surpassing supply. Rental prices are higher than fair market rents, indicating a healthy rental market. Quick sales cycles and minimal price adjustments further support this observation. For landlords and small-portfolio investors, this translates into a stable investment climate with opportunities for steady returns.
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.