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 | $1,670 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $2,060 |
| 3 Bedrooms | $2,680 |
| 4 Bedrooms | $3,090 |
| 5 Bedrooms | $3,584 |
| 6 Bedrooms | $4,014 |
| 7 Bedrooms | $4,335 |
| 8 Bedrooms | $4,552 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,760 | $156,194 | 1.13% | B |
| 2BR | $2,060 | $326,874 | 0.63% | D |
| 3BR | $2,680 | $440,038 | 0.61% | D |
| 4BR | $3,090 | $581,907 | 0.53% | F |
| 5BR | $3,584 | $819,092 | 0.44% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 33460, located in Lake Worth Beach, FL, within the West Palm Beach-Boca Raton, FL HUD Metro FMR Area, does not favor Section 8 tenants. The Fair Market Rent (FMR) set at $1900 for fiscal year 2024 is significantly below the market rent, which stands at $2,011 as measured by ZORI. This means that landlords would be accepting a rent that is $111 less per month than what the market demands.
Acquisition of properties in this area is relatively affordable given the median home value of $376,026. The average days on market (DOM) of 49 indicates that homes are selling quickly, suggesting a robust local real estate market. Furthermore, only 0.2% of homes have been listed with a price cut, which implies that most properties are selling at or near their asking price. These factors make it feasible for investors to acquire properties without facing high costs or prolonged listings.
Tenant demand in ZIP 33460 is strong. With a total population of 37,795, over half (55.6%) are renters. This high percentage of renters suggests a healthy pool of potential tenants interested in leasing properties, making it easier for landlords to fill vacancies.
Verdict: While the rent math does not favor Section 8 participation due to the lower FMR compared to the market rent, the acquisition of properties remains affordable with quick sales and minimal price adjustments. Strong tenant demand ensures that finding willing renters is not an issue. However, landlords must weigh the financial benefits of higher market rents against the stability and ease of managing Section 8 properties.
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.