Location: Port St. Lucie, FL | Metro: Port St. Lucie, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,790 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,170 |
| 3 Bedrooms | $2,940 |
| 4 Bedrooms | $3,070 |
| 5 Bedrooms | $3,561 |
| 6 Bedrooms | $3,988 |
| 7 Bedrooms | $4,307 |
| 8 Bedrooms | $4,522 |
U.S. Census Bureau data (2024)
ZIP code 34994, located in Stuart, FL, falls within the broader Port St. Lucie, FL MSA metro area. Its Federally Market Rent (FMR) of $1560 for fiscal year 2024 is significantly lower than the market rent of $2,267, indicating that it offers affordable rental options compared to the overall metro average. The median home value in ZIP 34994 stands at $237,212, which is also below the typical home values found in other ZIP codes within the Port St. Lucie MSA.
The renter share in 34994 is 42.1%, which is notably higher than the average renter share across the entire MSA. This combination of a high renter share and below-average home values suggests that 34994 could be an attractive location for landlords participating in the Section 8 program. The disparity between the FMR and the market rent, along with the significant percentage of renters, points towards 34994 being a value pocket within the metro area. It provides opportunities for investors looking to maximize their returns on investment properties through government subsidies while offering housing at a price point that is accessible to many tenants.
To summarize, based on the provided figures, ZIP 34994 is a value pocket within the Port St. Lucie, FL MSA. Landlords can expect to find a larger pool of potential tenants due to the high renter share, and the lower home values make it feasible to purchase properties at a cost that aligns well with the Section 8 program's financial guidelines. The discrepancy between the FMR and market rent also supports this classification, highlighting the affordability of the area relative to its surrounding ZIP codes.
Data Sources: FMR data from HUD (2027). 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.