Section 8 Fair Market Rent (FMR) for ZIP 34952 - 2027

Investment Score for ZIP 34952

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	$1,850
1 Bedroom	$1,860
2 Bedrooms	$2,240
3 Bedrooms	$3,030
4 Bedrooms	$3,170
5 Bedrooms	$3,677
6 Bedrooms	$4,118
7 Bedrooms	$4,447
8 Bedrooms	$4,669

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	$1,860	$104,830	1.77%	A+
2BR	$2,240	$221,714	1.01%	B
3BR	$3,030	$359,372	0.84%	C
4BR	$3,170	$447,759	0.71%	D
5BR	$3,677	$607,002	0.61%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 34952 (Port Saint Lucie, FL) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 34952, as per the 2026 figures, is set at $1880 for a two-bedroom unit. This amount represents 36.6% of the median household income in the area, which is $61,628. However, the actual rent prices in Port Saint Lucie are significantly higher. According to Zillow, the median price for a two-bedroom rental unit is $228,332, which translates to a monthly rent of approximately $1902.67 based on a standard mortgage calculation. This means that the actual rent prices are about 10.1 times the FMR, creating a substantial gap between what voucher holders can afford and what landlords are charging. This gap poses significant constraints for voucher holders. They must find landlords willing to accept Section 8 vouchers, which often come with strict rent limits. The disparity between FMR and actual rents could lead to a shortage of available units for voucher holders, making it difficult for them to secure housing within their budget. #### Affordability & Renter Profile In ZIP code 34952, 25.8% of the population are renters, indicating a moderate rental market presence. The occupancy rate stands at 82.5%, suggesting that there is a reasonable demand for rental properties but also some supply. Given the median household income of $61,628, many residents may struggle to afford the high rental prices, especially those relying solely on Section 8 vouchers. The affordability challenge is particularly acute for low-income households. With the FMR being only 36.6% of the median income, the remaining 63.4% would need to cover other living expenses, including utilities and food. This leaves little room for error, and any increase in non-rent costs could push these households into financial distress. The market appears to be somewhat tight for low-income renters, given the high price-to-FMR ratio. Landlords who charge above the FMR may find it challenging to attract tenants who rely on Section 8 vouchers, potentially leading to vacancies. #### Investor Angle From an investor perspective, the ZIP code 34952 presents a mixed picture. While the actual rental prices are higher than the FMR, the potential for cash flow is limited by the willingness of landlords to accept Section 8 vouchers. To determine if this ZIP is cash-flow positive at FMR, we need to consider the typical operating costs and vacancy rates. Assuming a conservative vacancy rate of 5% and average operating costs of 50% of the gross rent, the net rent for a two-bedroom unit at FMR would be: \[ \text{Net Rent} = (\text{Gross Rent} \times (1 - \text{Vacancy Rate})) \times (1 - \text{Operating Costs}) \] \[ \text{Net Rent} = (1880 \times 0.95) \times 0.5 = 1786 \times 0.5 = 893 \] So, the net rent at FMR would be around $893 per month. This is considerably lower than the actual median rent of $1902.67, indicating that investors focusing on Section 8 vouchers might face challenges in generating positive cash flow unless they can manage costs effectively. The investment grade for this ZIP code would likely be moderate to low due to the high price-to-FMR ratio and the potential difficulty in attracting tenants who can pay the full FMR. Investors should carefully assess their ability to operate within these constraints before entering the market. #### Specific Actionable Insights 1. **Focus on Units Below FMR**: Investors should target properties where the rent is below the FMR, specifically around $1880 for a two-bedroom unit. This will ensure that they can attract Section 8 voucher holders without facing significant vacancy issues. 2. **Consider Property Management Services**: Given the complexity of managing Section 8 properties, investors might benefit from partnering with experienced property management firms. These firms can help navigate the administrative requirements and tenant selection process, potentially reducing operational costs and improving cash flow. 3. **Explore Mixed-Income Developments**: To balance the financial risks associated with Section 8 properties, investors could explore developing mixed-income housing projects. This approach allows for a portion of units to be rented at market rates while others are reserved for voucher holders. Such developments can provide a more stable cash flow and reduce the reliance on a single type of tenant. #### Bottom Line Based on the provided data, the recommendation for Section 8-focused investors in ZIP code 34952 is to **Hold**. The high price-to-FMR ratio indicates that the market is challenging for voucher holders, and the potential for positive cash flow is limited. However, the steady demand for rental properties and the presence of a significant number of renters make it a viable market for those willing to manage the complexities of Section 8 housing. Investors should focus on properties that can be rented at or below the FMR and consider strategies such as mixed-income developments to mitigate financial risks.

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.