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 | $1,740 |
| 1 Bedroom | $1,830 |
| 2 Bedrooms | $2,140 |
| 3 Bedrooms | $2,780 |
| 4 Bedrooms | $3,210 |
| 5 Bedrooms | $3,724 |
| 6 Bedrooms | $4,171 |
| 7 Bedrooms | $4,505 |
| 8 Bedrooms | $4,730 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,830 | $154,602 | 1.18% | B |
| 2BR | $2,140 | $280,406 | 0.76% | D |
| 3BR | $2,780 | $445,622 | 0.62% | D |
| 4BR | $3,210 | $585,790 | 0.55% | F |
| 5BR | $3,724 | $3,299,594 | 0.11% | F |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $2070 for ZIP 33462 in Lake Worth Beach, FL, for fiscal year 2024, landlords can expect a benchmark for rental pricing. The Zillow Observed Rent Index (ZORI) stands at $2,386, indicating that market rents slightly exceed the FMR, which could be advantageous for property owners aiming to maximize their returns. The median home value in this area is $386,188, suggesting a moderate housing market where investment opportunities are balanced against the cost of entry. With a renter share of 35.1%, it's evident that a significant portion of the population prefers leasing over homeownership, potentially offering a steady demand for rental properties. The median income of $73,997 provides insight into the financial capacity of residents, which is crucial for assessing the viability of rental rates. A days on market (DOM) figure of 71 days shows that properties are typically leased within a reasonable timeframe, reducing the risk of prolonged vacancy. Lastly, the price-cut share of 0.2% indicates a highly competitive market where landlords rarely need to reduce their asking price to secure tenants.
Given these metrics, the outlook for Section 8 participation in Lake Worth Beach is favorable. Landlords can leverage the $2070 FMR to ensure compliance while still achieving a competitive edge with the $2,386 market rent. The relatively low DOM and price-cut share suggest that there is strong tenant interest in the area, making it an attractive location for Section 8 vouchers. Additionally, the median income supports the idea that residents are capable of contributing a portion of their rent, reducing the financial burden on landlords. Therefore, for those considering Section 8, Lake Worth Beach presents a stable environment with a good balance between government-subsidized rents and market demands.
Verdict: ZIP 33462 offers a solid opportunity for Section 8 participation, aligning government subsidies with market realities.
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.