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Palm Beach County/Canal Point/33438

33438

ZIPSAFMR
Palm Beach County, FL
Zillow

ZIP Investment Score

22Below average

095130300
BRFMR
Eff. Rent
0 BR$1,360$900
1 BR$1,430$980
2 BR$1,670$1,230
3 BR$2,170$1,220
4 BR$2,500$1,430
5 BR$2,875Not available
6 BR$3,306Not available
7 BR$3,802Not available
8 BR$4,373Not available

Purchase Price Calculator

Maximum purchase price
$120,861

Cost breakdown

+Likely effective rent$1,230
HUD FMR$1,670
Market rentUsed$1,230
Est. payment standard (90%)$1,500
-Principal and interest-$611
Loan amount$96,689
Down payment$24,172
Rate6.50%
Term30 years
-Operating costs-$419
Property taxes-$121
Insurance-$175
Utilities$0
HOA$0
Management-$123
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,957(82.6% ROI)
Projected value
$130,154
Return breakdown
Property appreciation+$9,293
Loan principal paid down+$3,464
Rental cash flow+$7,200
5-year hold
+$34,060(140.9% ROI)
Projected value
$136,743
Return breakdown
Property appreciation+$15,882
Loan principal paid down+$6,177
Rental cash flow+$12,000
10-year hold
+$72,571(300.2% ROI)
Projected value
$154,712
Return breakdown
Property appreciation+$33,851
Loan principal paid down+$14,720
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.51
1 BR
1.46
2 BR
1.36
3 BR
1.78
4 BR
1.75
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 33438 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33438 (Canal Point, FL) is $1,670 a month. That is up 4.4% from $1,600 in FY 2026. Canal Point 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, 33438 has the 70th-highest two-bedroom rent (county range $1,080–$3,520). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33438 is 13% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 33438
BedroomsFY 2027Change90–110% range
Studio$1,360+7.1%$1,224–$1,496
1BR$1,430+5.9%$1,287–$1,573
2BR$1,670+4.4%$1,503–$1,837
3BR$2,170+4.8%$1,953–$2,387
4BR$2,500+3.7%$2,250–$2,750

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 33438
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,360$1,430$1,670$2,170$2,500
FY 2026$1,270$1,350$1,600$2,070$2,410
FY 2025$890$940$1,140$1,530$1,700
FY 2024$880$910$1,120$1,520$1,740
FY 2023$770$810$1,010$1,350$1,570

Two-bedroom rent in nearby Palm Beach County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 33438
33431$3,140+88.0%
33432$3,200+91.6%
33433$2,880+72.5%
33434$1,970+18.0%
33435$2,520+50.9%
33436$2,430+45.5%
33437$2,510+50.3%
33438Current$1,670—
33440$1,080−35.3%
33441$2,020+21.0%
33444$2,190+31.1%
33445$2,480+48.5%

Questions about ZIP 33438 rents

How much will Section 8 pay for a two-bedroom in ZIP 33438?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,670, that basic range is $1,503 to $1,837 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 33438 in?

ZIP 33438 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 33438 for FY 2027?

The two-bedroom FMR rose 4.4%, from $1,600 in FY 2026 to $1,670 in FY 2027. Since FY 2023 it has risen 65.3%.

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

County fair market rentCanal Point, FL fair market rentFL statewide rentsWhat is SAFMR?Data sources