FMR is near market; voucher and private rents are aligned.
0.95
1 BR
1 BR- 33493
1.04ratio
FMR$1,210
Market$1,160
vs market+$50
FMR is near market; voucher and private rents are aligned.
1.04
2 BR
2 BR- 33493
0.94ratio
FMR$1,410
Market$1,500
vs market-$90
FMR is near market; voucher and private rents are aligned.
0.94
3 BR
3 BR- 33493
1.22ratio
FMR$1,830
Market$1,500
vs market+$330
FMR is above market; underwrite to market rent.
1.22
4 BR
4 BR- 33493
1.37ratio
FMR$2,110
Market$1,540
vs market+$570
FMR is above market; underwrite to market rent.
1.37
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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South Bay, FL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in South Bay, FL is $1,410 a month. That is down 0.7% from $1,420 in FY 2026. South Bay is in the West Palm Beach-Boca Raton, FL HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Florida is $1,474, so South Bay is 4% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for South Bay, FL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,130
$1,140
+0.9%
$1,026–$1,254
1BR
$1,200
$1,210
+0.8%
$1,089–$1,331
2BR
$1,420
$1,410
−0.7%
$1,269–$1,551
3BR
$1,840
$1,830
−0.5%
$1,647–$2,013
4BR
$2,130
$2,110
−0.9%
$1,899–$2,321
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for South Bay, FL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,140
$1,210
$1,410
$1,830
$2,110
FY 2026
$1,130
$1,200
$1,420
$1,840
$2,130
FY 2025
$1,060
$1,180
$1,410
$1,840
$2,200
FY 2024
$1,000
$1,170
$1,410
$1,860
$2,250
FY 2023
$790
$960
$1,180
$1,580
$1,930
Questions about South Bay, FL rents
How much will Section 8 pay for a two-bedroom in South Bay, FL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,410, that basic range is $1,269 to $1,551 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is South Bay, FL in?
South Bay, FL is in the West Palm Beach-Boca Raton, FL HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in South Bay, FL for FY 2027?
The two-bedroom FMR fell 0.7%, from $1,420 in FY 2026 to $1,410 in FY 2027. Since FY 2023 it has risen 19.5%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set