Location: Sebastian-Vero Beach-West Vero Corridor, 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 | $1,370 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $2,250 |
| 4 Bedrooms | $2,430 |
| 5 Bedrooms | $2,819 |
| 6 Bedrooms | $3,157 |
| 7 Bedrooms | $3,410 |
| 8 Bedrooms | $3,581 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,660 | $211,662 | 0.78% | D |
| 3BR | $2,250 | $310,467 | 0.72% | D |
| 4BR | $2,430 | $371,425 | 0.65% | D |
| 5BR | $2,819 | $383,163 | 0.74% | D |
U.S. Census Bureau data (2024)
The ZIP code 34951 in Fort Pierce, FL, is not predominantly a renter-heavy area. With a population of 17,148, only 11.7% are renters, indicating that it is largely a homeowner-dominated area. This suggests that the demand for Section 8 vouchers might be relatively lower compared to areas with a higher percentage of renters.
The median household income in the area is $63,122, which is a key figure when considering the affordability of housing. The market rent for the area is $2,347 per month, representing approximately 37% of the median household income. This is a significant portion of income dedicated to rent, highlighting the financial pressure on tenants in this area.
To put this into perspective, the Fair Market Rent (FMR) for ZIP 34951, as determined by HUD for FY 2024, is set at $1,320. This means that the market rent is more than double the FMR, underscoring the disparity between what the market demands and what is considered fair by government standards.
A landlord in this area should expect tenants who are likely to have a mix of income sources, including those who rely on Section 8 vouchers. However, given the limited number of renters relative to homeowners, the competition for voucher holders could be fierce. Tenants will generally need to supplement their voucher with additional funds to meet the market rent, making them financially cautious and possibly seeking properties that offer better value for money.
In summary, while there is a presence of Section 8 tenants in ZIP 34951, it is not an area characterized by deep voucher demand. Landlords should prepare for tenants who may require additional financial support beyond the voucher to afford the rent, and who are likely to be very selective about their living arrangements due to the high cost of housing relative to income.
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.