Location: West Palm Beach-Boca Raton, FL | Metro: West Palm Beach-Boca Raton, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,910 |
| 1 Bedroom | $2,010 |
| 2 Bedrooms | $2,350 |
| 3 Bedrooms | $3,050 |
| 4 Bedrooms | $3,520 |
| 5 Bedrooms | $4,083 |
| 6 Bedrooms | $4,573 |
| 7 Bedrooms | $4,939 |
| 8 Bedrooms | $5,186 |
ZIP code 33465, located within the West Palm Beach-Boca Raton, FL HUD Metro FMR Area, has a Fair Market Rent (FMR) of $2230 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors considering properties in this area. However, the lack of specific market rent and home value data for ZIP 33465 makes it challenging to definitively classify it as a value pocket, mid-tier neighborhood, or premium sub-market within its broader metro context.
To provide some perspective, let's examine the typical characteristics of ZIP codes within the West Palm Beach-Boca Raton, FL HUD Metro FMR Area. The FMR range for this metro area can vary significantly, but generally, ZIP codes with an FMR around $2230 could be considered mid-tier or slightly above average, depending on the specific distribution of rents across the entire area. The absence of market rent data suggests that 33465 might not have robust private rental data available, which could indicate either a smaller or less active rental market compared to other ZIPs in the region.
The N/A status for home values also indicates limited data, possibly due to fewer sales transactions or a predominantly rental-focused market. This lack of data does not allow us to draw direct comparisons with other ZIP codes in terms of home value appreciation or stability.
Regarding the renter share, the absence of this percentage means we cannot determine if 33465 has a higher concentration of renters relative to homeowners. A high renter share coupled with below-average home values would typically signal a potential sweet spot for Section 8 investments, as it suggests a strong demand for affordable housing and a market where government subsidies play a significant role.
In summary, based on the available data, ZIP 33465 appears to be a mid-tier neighborhood within the West Palm Beach-Boca Raton, FL HUD Metro FMR Area, with an FMR of $2230. Its exact classification as a value pocket or premium sub-market remains unclear without additional market rent and home value figures. Landlords and investors should consider this ZIP code as part of a broader strategy within the metro area, leveraging its FMR to ensure compliance with HUD guidelines while exploring further opportunities for investment.
Data Sources: FMR data from HUD (2027).
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.