Section 8 Fair Market Rent (FMR) for ZIP 33436 - 2027

Investment Score for ZIP 33436

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	$1,970
1 Bedroom	$2,080
2 Bedrooms	$2,430
3 Bedrooms	$3,160
4 Bedrooms	$3,640
5 Bedrooms	$4,222
6 Bedrooms	$4,729
7 Bedrooms	$5,107
8 Bedrooms	$5,362

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	$2,080	$143,090	1.45%	A
2BR	$2,430	$245,991	0.99%	C
3BR	$3,160	$485,157	0.65%	D
4BR	$3,640	$608,028	0.6%	F
5BR	$4,222	$751,943	0.56%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 33436 (Boynton Beach, FL) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for Boynton Beach, FL (ZIP 33436), as of 2026, is set at $2690 for a two-bedroom unit. This represents 42.6% of the median household income of $75,789. However, the actual rental market prices can vary significantly. According to Zillow, the median price for a two-bedroom home in this area is $250,271, which translates to a price-to-FMR ratio of 7.8x. This suggests that the actual rental prices are much higher than the FMR, creating a significant constraint for Section 8 voucher holders. For instance, a two-bedroom unit renting at the Zillow median would cost approximately $1918 per month, assuming a 7.8x ratio, but this is still above the FMR of $2690. Therefore, voucher holders face challenges in finding affordable housing that meets their budgetary constraints. #### Affordability & Renter Profile The renter population in Boynton Beach makes up 25.5% of the total population, indicating a moderate level of demand for rental properties. The occupancy rate stands at 83.1%, suggesting that the market is relatively tight, with a slight lean towards undersupply. Given the high median household income of $75,789, the typical renter in this area likely has a higher income compared to the national average. However, the FMR for a two-bedroom unit being only 42.6% of the median income implies that there is a segment of the population that finds it challenging to afford housing, particularly those relying on Section 8 vouchers. The high price-to-FMR ratio further underscores the affordability gap, making it difficult for lower-income renters to find suitable housing. #### Investor Angle From an investor’s perspective, the ZIP code 33436 offers potential opportunities, especially if focusing on cash flow. The FMR for a two-bedroom unit is $2690, which is below the actual rental market prices. Assuming a conservative estimate of rental rates at 7.8x the median home price, a two-bedroom unit could potentially rent for around $1918 per month. However, the actual rental market is likely to be higher due to the tight occupancy rate and the median home price. To assess the investment grade, we need to consider the potential rental income versus the property value. If a two-bedroom unit rents for $250,271, the monthly rental income would be approximately $2085, using a common 1% rule for rental pricing. This is slightly above the FMR but still within a reasonable range for cash flow positive investments. Additionally, the high occupancy rate indicates strong demand, reducing the risk of vacancy. However, investors must also consider the regulatory environment and the potential for long-term leases with Section 8 voucher holders. While these leases provide stable income, they also come with certain administrative and compliance costs. Overall, the investment grade appears favorable, given the tight market and the potential for steady rental income. #### Specific Actionable Insights 1. **Focus on Two-Bedroom Units**: Given the FMR for a two-bedroom unit is $2690, and the median home price is $250,271, investing in two-bedroom units could be profitable. These units are most aligned with the needs of Section 8 voucher holders and offer a balance between affordability and rental income. The actual rental market price is likely to be higher, providing a margin for cash flow. 2. **Consider Pricing Adjustments**: Since the actual rental market prices are significantly higher than the FMR, landlords who wish to attract Section 8 voucher holders might need to adjust their pricing. Offering rents slightly below the FMR could make properties more attractive to voucher holders while still maintaining profitability. 3. **Explore Multi-Family Properties**: With a 25.5% renter population and an occupancy rate of 83.1%, multi-family properties could be a viable option. These properties often have economies of scale, reducing the per-unit cost and increasing overall cash flow. Additionally, multi-family properties can cater to different family sizes, aligning with the various FMRs for different bedroom types. #### Bottom Line For Section 8-focused investors, Boynton Beach (ZIP 33436) presents a mixed picture. On one hand, the tight market and high occupancy rate suggest strong demand for rental properties. On the other hand, the high price-to-FMR ratio indicates that many properties may be out of reach for voucher holders. Despite these challenges, the ZIP code remains a viable investment opportunity, particularly for those willing to focus on two-bedroom units and adjust their pricing strategies accordingly. **Recommendation**: **Buy**. The combination of a tight market, high occupancy rate, and potential for steady rental income makes this ZIP code a good investment target for those focused on Section 8 properties. However, investors should carefully evaluate individual properties and consider pricing adjustments to ensure they remain competitive and attractive to voucher holders.

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.