Location: Lakeland-Winter Haven, FL | Metro: Lakeland-Winter Haven, FL MSA
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 | $1,420 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,820 |
| 3 Bedrooms | $2,500 |
| 4 Bedrooms | $3,040 |
| 5 Bedrooms | $3,526 |
| 6 Bedrooms | $3,949 |
| 7 Bedrooms | $4,265 |
| 8 Bedrooms | $4,478 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,820 | $166,415 | 1.09% | B |
| 3BR | $2,500 | $259,688 | 0.96% | C |
| 4BR | $3,040 | $304,831 | 1% | C |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 33838, Dundee, FL, is set at $1,100 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you will receive; it's a guideline to ensure affordability for tenants.
In comparison, the average market rent in Dundee, FL, as reported by the Census Bureau's American Community Survey, is $1,628. This suggests that the FMR is significantly lower than the typical rent in the area, meaning that landlords participating in the Section 8 program will receive less than the market rate. However, the demand for affordable housing is strong, with 34.3% of residents being renters. This indicates a substantial portion of the population looking for affordable housing options.
The median home value in Dundee is approximately $270,082. For potential investors considering their first Section 8 rental property, this figure provides context on the acquisition cost. Given the lower rent ceiling compared to market rates, the decision to enter the Section 8 program should be made with an understanding of the financial implications.
Before committing to a Section 8 rental property, one crucial step is to verify the condition of the property against HUD's Housing Quality Standards (HQS). These standards ensure that the property meets basic safety and habitability requirements. Failure to meet these standards can result in reduced payments or termination of the contract, so it's essential to confirm compliance to avoid future complications.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.