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 | $1,810 |
| 1 Bedroom | $1,910 |
| 2 Bedrooms | $2,230 |
| 3 Bedrooms | $2,900 |
| 4 Bedrooms | $3,340 |
| 5 Bedrooms | $3,874 |
| 6 Bedrooms | $4,339 |
| 7 Bedrooms | $4,686 |
| 8 Bedrooms | $4,920 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,910 | $117,786 | 1.62% | A+ |
| 2BR | $2,230 | $201,464 | 1.11% | B |
| 3BR | $2,900 | $413,448 | 0.7% | D |
| 4BR | $3,340 | $549,990 | 0.61% | D |
| 5BR | $3,874 | $682,968 | 0.57% | F |
U.S. Census Bureau data (2024)
Greenacres, located in central Palm Beach County, offers a suburban atmosphere characterized by a mix of established single-family homes and condominiums, appealing to families and retirees seeking a quieter alternative to the coastal cities. The city maintains several public parks and recreational facilities, with the Greenacres Community Center serving as a local hub for activities and events. Nearby, the presence of the Palm Beach State College campus provides a steady stream of faculty and student demand for rentals, while the John D. MacArthur Beach State Park is a short drive away for residents looking for outdoor leisure.
From a financial perspective, the area shows a clear divergence between HUD subsidies and current market pricing. The FY2024 HUD SAFMR for a two-bedroom unit in ZIP 33463 is set at $1,950, while Zillow’s market rent index reaches $2,375, leaving a gap of $425 per month that the voucher does not cover. Investors looking to acquire can find a median two-bedroom home priced at $202,607, which sits below the overall ZIP median home value of $383,474. However, inventory moves slowly here, with the median days on market sitting at 93 days, indicating a sales environment that requires patience.
The tenant base is relatively stable, supported by a median household income of $73,865, though only 27.1% of households are renters. This lower renter share suggests that demand is driven by specific local needs rather than a transient population. Families moving here often utilize the public school system, with local elementary and middle schools generally holding "B" ratings from the state, making the area viable for housing choice voucher holders prioritizing education. Additionally, access to Interstate 95 via nearby Lake Worth Road facilitates commutes to major employment hubs in West Palm Beach and Boca Raton.
The Section 8 verdict for Greenacres 33463 leans toward a long-term appreciation and stability play rather than immediate aggressive cash flow. While the $425 gap between market rent and the 2BR SAFMR presents a hurdle for maximizing immediate yield, the affordable acquisition cost of a median 2BR property at $202,607 provides a sensible entry point. Investors should focus on holding assets to benefit from the area's consistent home values, leveraging the local amenities and school ratings to attract quality voucher tenants who intend to stay long-term.
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.