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 | $2,180 |
| 1 Bedroom | $2,290 |
| 2 Bedrooms | $2,680 |
| 3 Bedrooms | $3,480 |
| 4 Bedrooms | $4,150 |
| 5 Bedrooms | $4,814 |
| 6 Bedrooms | $5,392 |
| 7 Bedrooms | $5,823 |
| 8 Bedrooms | $6,114 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,680 | $813,432 | 0.33% | F |
| 3BR | $3,480 | $1,081,389 | 0.32% | F |
| 4BR | $4,150 | $877,316 | 0.47% | F |
| 5BR | $4,814 | $1,003,350 | 0.48% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 33473, located in Boynton Beach, FL, within the West Palm Beach-Boca Raton, FL HUD Metro FMR Area, reveals several key points for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $3340. However, the lack of specific market rent data (N/A) makes it challenging to directly compare these figures. To ensure profitability, landlords must consider other factors such as property management costs, vacancy rates, and maintenance expenses.
The second question concerns the affordability of acquisitions. With a median home value of $935,025, purchasing properties in this area requires significant capital. The average Days on Market (DOM) is 48 days, indicating that homes typically sell relatively quickly once listed. Additionally, only 0.3% of listings involve a price cut, suggesting that the market is stable and sellers can maintain their asking prices without concessions.
The third question explores tenant demand. The population of ZIP 33473 is 11,825, with a renter share of 2.2%. This low percentage of renters suggests limited demand for rental properties, which could make it difficult to find tenants willing to pay the FMR rate of $3340. Landlords should be cautious about overestimating the number of potential renters in this area.
Verdict: While the Fair Market Rent provides a benchmark for setting rental prices, the lack of specific market rent data complicates direct comparisons. Acquisitions in this area are expensive, but the quick sale times and minimal price cuts indicate a strong seller's market. However, the low renter share poses a significant challenge to attracting tenants, making it essential for investors to carefully assess the local rental market dynamics before committing to investments in ZIP 33473.
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.