Section 8 Fair Market Rent (FMR) for ZIP 34208 - 2027

Investment Score for ZIP 34208

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,530
1 Bedroom	$1,640
2 Bedrooms	$1,910
3 Bedrooms	$2,420
4 Bedrooms	$2,890
5 Bedrooms	$3,352
6 Bedrooms	$3,754
7 Bedrooms	$4,054
8 Bedrooms	$4,257

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,640	$131,429	1.25%	A
2BR	$1,910	$242,885	0.79%	D
3BR	$2,420	$331,893	0.73%	D
4BR	$2,890	$445,974	0.65%	D
5BR	$3,352	$458,957	0.73%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 34208 (Bradenton, FL) #### Section 8 Voucher Dynamics In ZIP code 34208, the Fair Market Rent (FMR) for a two-bedroom unit is set at $1750 per month. This amount represents 34.7% of the median household income in the area, which stands at $60,504. The FMRs for other bedroom types are as follows: $1270 for zero-bedroom units, $1510 for one-bedroom units, $2270 for three-bedroom units, and $2710 for four-bedroom units. The FMRs serve as a benchmark for rental costs that are considered affordable for low-income households who receive Section 8 vouchers. However, it is crucial to understand how these FMRs compare to actual rents in the market. According to Zillow, the median price for a two-bedroom home in Bradenton is $242,931. This translates to a price-to-FMR ratio of 11.6x, indicating that the median home value is significantly higher than the FMR for a two-bedroom unit. This high ratio suggests that many landlords might be hesitant to accept Section 8 vouchers due to the potential gap between the voucher amount and the market rent. For instance, if a landlord charges $1750 for a two-bedroom unit, they would only receive this amount through the voucher program, which could be less than what they could charge in the open market. Therefore, voucher holders face significant constraints in finding suitable housing within their budget. #### Affordability & Renter Profile The population of ZIP 34208 is 44,004, with 43.5% of residents being renters. This indicates a substantial demand for rental properties in the area. Additionally, the occupancy rate is 87.5%, suggesting that there is a relatively balanced market where most available units are occupied. Given the median household income of $60,504, the FMRs are designed to ensure that low-income families can afford decent housing. However, the high price-to-FMR ratio implies that the market is tight, especially for those relying on Section 8 vouchers. The median rent for a two-bedroom unit is $1750, which is already a significant portion of the median income. This makes it challenging for renters to find affordable options without additional financial support. #### Investor Angle From an investor’s perspective, the key question is whether accepting Section 8 vouchers can still provide a positive cash flow. Given the FMRs and the median home values, it appears that the market is quite expensive relative to the FMRs. For example, a two-bedroom home priced at $242,931 would likely have a monthly mortgage payment far exceeding the $1750 FMR. However, the FMRs do provide a guaranteed income stream for landlords who choose to participate in the Section 8 program. If a landlord can secure a property at a price that aligns with the FMRs, they could potentially achieve a positive cash flow. But considering the high price-to-FMR ratio, it is unlikely that many properties will be available at such a low price point. Investment grade in this context would depend on the ability to find properties that are both affordable and meet the needs of Section 8 tenants. Given the limited supply of affordable properties and the high competition in the market, the investment grade for this ZIP code is moderate to low. #### Specific Actionable Insights 1. **Target Affordable Properties:** Investors should focus on acquiring properties that are priced below the median home value but still within the range of FMRs. For example, a two-bedroom unit priced around $200,000 would likely have a lower mortgage payment and could still be rented out at the $1750 FMR, providing a better chance for positive cash flow. 2. **Consider Smaller Units:** Given the high price-to-FMR ratio, smaller units like one-bedroom or zero-bedroom units might offer a better opportunity for positive cash flow. These units have FMRs of $1510 and $1270 respectively, which are lower than the median home value but still represent a significant portion of the median income. 3. **Engage with Local Housing Authorities:** To increase the likelihood of finding affordable properties, investors should engage with local housing authorities and community organizations. They can provide insights into upcoming developments and properties that might be more aligned with FMRs. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 34208 is to **Skip**. The high price-to-FMR ratio and the limited supply of affordable properties make it challenging to achieve positive cash flow. While there is a strong demand for rental properties, the tight market conditions and the high cost of acquiring properties mean that the returns are likely to be lower compared to other ZIP codes with similar characteristics but better alignment between FMRs and market rents. Investors looking to enter the Bradenton market should consider areas with lower price-to-FMR ratios or explore alternative investment strategies that do not rely solely on Section 8 vouchers.

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.