FMR is below market; voucher rent may lag private rents.
0.89
3 BR
3 BR
0.92ratio
FMR$3,050
Market$3,310
vs market-$260
FMR is near market; voucher and private rents are aligned.
0.92
4 BR
4 BR
0.67ratio
FMR$3,520
Market$5,260
vs market-$1,740
FMR is below market; voucher rent may lag private rents.
0.67
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
--
ZIP 33427 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33427 (Boca Raton, FL) is $2,350 a month. That is up 4.4% from $2,250 in FY 2026. Boca Raton 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. Among 74 ZIP codes in Palm Beach County, 33427 is tied for the 33rd-highest two-bedroom rent (county range $1,080–$3,520). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33427 is 59% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 33427
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,780
$1,910
+7.3%
$1,719–$2,101
1BR
$1,900
$2,010
+5.8%
$1,809–$2,211
2BR
$2,250
$2,350
+4.4%
$2,115–$2,585
3BR
$2,920
$3,050
+4.5%
$2,745–$3,355
4BR
$3,380
$3,520
+4.1%
$3,168–$3,872
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 33427
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,910
$2,010
$2,350
$3,050
$3,520
FY 2026
$1,780
$1,900
$2,250
$2,920
$3,380
FY 2025
$1,640
$1,830
$2,190
$2,860
$3,420
FY 2024
$1,580
$1,850
$2,230
$2,950
$3,560
FY 2023
$1,260
$1,540
$1,880
$2,510
$3,070
Two-bedroom rent in nearby Palm Beach County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 33427?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,350, that basic range is $2,115 to $2,585 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 ZIP 33427 in?
ZIP 33427 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 ZIP 33427 for FY 2027?
The two-bedroom FMR rose 4.4%, from $2,250 in FY 2026 to $2,350 in FY 2027. Since FY 2023 it has risen 25.0%.
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