Section 8 Fair Market Rent (FMR) for ZIP 34983 - 2027

Investment Score for ZIP 34983

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	$1,980
1 Bedroom	$1,990
2 Bedrooms	$2,400
3 Bedrooms	$3,250
4 Bedrooms	$3,390
5 Bedrooms	$3,932
6 Bedrooms	$4,404
7 Bedrooms	$4,756
8 Bedrooms	$4,994

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
2BR	$2,400	$284,615	0.84%	C
3BR	$3,250	$360,136	0.9%	C
4BR	$3,390	$414,445	0.82%	C
5BR	$3,932	$484,946	0.81%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 34983 (Port Saint Lucie, FL) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 34983 is set by HUD for 2026 as follows: - 0BR: $1720 - 1BR: $1740 - 2BR: $2080 (which is 33.1% of the median household income of $75,489) - 3BR: $2870 - 4BR: $3050 These figures represent the maximum rent that a Section 8 voucher holder can pay. However, it is important to understand how these FMRs compare to actual rental rates in the area. For instance, the Zillow median price for a 2BR home in Port Saint Lucie is $282,798. This suggests that the typical 2BR rental might be priced significantly higher than the FMR, leading to constraints for voucher holders. The price-to-FMR ratio for a 2BR unit is 11.3x, indicating that the actual rental costs are far above what is covered by the voucher. Consequently, voucher holders may struggle to find affordable housing options that fit within their budget. #### Affordability & Renter Profile In ZIP code 34983, the renter population makes up 15.2% of the total population of 49,001. Given the occupancy rate of 93.9%, it appears that the market is relatively tight, with most available units being occupied. The median household income of $75,489 suggests that the majority of residents have a moderate income level. However, the fact that the 2BR FMR represents only 33.1% of the median income indicates that there is a significant portion of the population who could potentially afford to live in a 2BR unit without relying on government assistance. Given the high price-to-FMR ratio, it is likely that many renters in this ZIP code are paying well above the FMR. This tight market condition means that landlords have a strong bargaining position, which could lead to higher rents and fewer affordable options for low-income renters. #### Investor Angle From an investor perspective, the key question is whether the ZIP code offers a cash-flow positive opportunity at the FMR levels. The FMR for a 2BR unit is $2080, which is significantly lower than the median rental price implied by the Zillow median home value. To determine if this ZIP code is cash-flow positive at FMR, we need to consider the cost of acquiring and maintaining a property. Assuming a 2BR rental property is purchased at the Zillow median price of $282,798, and considering typical expenses such as mortgage payments, maintenance, insurance, and property taxes, it is unlikely that the FMR of $2080 would cover all these costs. Therefore, the ZIP code is likely not cash-flow positive at the FMR levels for a 2BR unit. Moreover, the investment grade for this ZIP code would be considered low due to the mismatch between the FMR and actual rental prices. Investors seeking to maximize returns would likely find better opportunities in areas where the FMR is closer to the actual rental prices. #### Specific Actionable Insights 1. **Focus on Larger Units**: Since the FMR for larger units (3BR and 4BR) is closer to the median household income, investors should consider focusing on properties with 3 or 4 bedrooms. For example, a 3BR unit with an FMR of $2870 is more likely to be cash-flow positive compared to a 2BR unit. 2. **Consider Non-Section 8 Tenants**: Given the high price-to-FMR ratio, it might be more profitable to target non-Section 8 tenants who can afford to pay higher rents. This would allow investors to charge market rates and achieve better returns. 3. **Explore Subsidized Housing Programs**: Investors could look into other subsidized housing programs that offer higher rental assistance. For instance, the Low-Income Housing Tax Credit (LIHTC) program provides incentives for developers to build affordable housing units that can command slightly higher rents than the FMR. #### Bottom Line Based on the provided data, the recommendation for Section 8-focused investors in ZIP code 34983 is to **skip** this market. The high price-to-FMR ratio and the limited number of units that fall within the FMR range make it challenging to achieve positive cash flow. Instead, investors should explore other ZIP codes where the FMR is more aligned with actual rental prices, or consider alternative investment strategies that target non-Section 8 tenants or utilize other subsidized housing programs.

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.