Location: Port St. Lucie, FL | Metro: Port St. Lucie, 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 | $1,750 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $2,120 |
| 3 Bedrooms | $2,870 |
| 4 Bedrooms | $3,000 |
| 5 Bedrooms | $3,480 |
| 6 Bedrooms | $3,898 |
| 7 Bedrooms | $4,210 |
| 8 Bedrooms | $4,421 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,760 | $195,070 | 0.9% | C |
| 2BR | $2,120 | $359,771 | 0.59% | F |
| 3BR | $2,870 | $665,734 | 0.43% | F |
| 4BR | $3,000 | $1,000,433 | 0.3% | F |
U.S. Census Bureau data (2024)
When considering whether to invest in ZIP 34949, Florida, for Section 8 properties, follow this decision tree:
1) Does FMR $1660 (zip FY 2024) clear debt service on a $414,590 property?
No. The Fair Market Rent (FMR) of $1660 per month is insufficient to cover the average debt service costs associated with a property valued at $414,590. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance. For such a high-value property, these costs would likely exceed $1660 monthly, making it financially unviable to rely solely on Section 8 rents.
2) Is market rent $2,561 (ZORI) above, at, or below FMR?
The market rent, as indicated by the Zillow Rent Index (ZORI), is $2,561 per month, which is significantly above the FMR of $1660. This suggests that non-Section 8 tenants could potentially pay much higher rents, but it also indicates a disparity between market rates and government-subsidized rates.
3) Are 18.3% renters + 99-day DOM enough demand?
It depends. ZIP 34949 has a rental population of 18.3%, and the days on market (DOM) for rentals is 99 days. While the rental population percentage is relatively low, the DOM figure suggests moderate demand. However, given that the FMR does not cover the debt service on a property of this value, the primary consideration should be the potential for attracting market-rate tenants.
If you decide to proceed with purchasing in ZIP 34949, focus on the following:
Avoid relying on Section 8 rents alone due to their inability to cover the full debt service costs of a $414,590 property.
Evaluate the possibility of renting to market-rate tenants who can afford $2,561 per month.
Consider the rental population and DOM data to gauge demand, but recognize that these factors alone do not ensure profitability when FMR falls short of covering essential expenses.
In conclusion, ZIP 34949 presents challenges for purely Section 8 investments due to the mismatch between FMR and debt service costs. However, the potential for market-rate rents provides an alternative path to profitability, contingent upon your ability to attract and retain higher-paying tenants.
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.