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Palm Beach County/Boca Raton/33487

33487

ZIPSAFMR
Palm Beach County, FL
Zillow

ZIP Investment Score

61Below average

095130300
BRFMR
Eff. Rent
0 BR$2,490$2,400
1 BR$2,620$2,560
2 BR$3,070$3,210
3 BR$3,990$4,010
4 BR$4,600$5,060
5 BR$5,290Not available
6 BR$6,083Not available
7 BR$6,996Not available
8 BR$8,045Not available

Purchase Price Calculator

Maximum purchase price
$415,088

Cost breakdown

+Likely effective rent$3,210
HUD FMR$3,070
Market rent$3,280
Est. payment standard (104%)Used$3,210
-Principal and interest-$2,099
Loan amount$332,071
Down payment$83,018
Rate6.50%
Term30 years
-Operating costs-$911
Property taxes-$415
Insurance-$175
Utilities$0
HOA$0
Management-$321
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$51,014(61.4% ROI)
Projected value
$447,005
Return breakdown
Property appreciation+$31,916
Loan principal paid down+$11,897
Rental cash flow+$7,200
5-year hold
+$87,762(105.7% ROI)
Projected value
$469,634
Return breakdown
Property appreciation+$54,546
Loan principal paid down+$21,216
Rental cash flow+$12,000
10-year hold
+$190,814(229.8% ROI)
Projected value
$531,348
Return breakdown
Property appreciation+$116,260
Loan principal paid down+$50,554
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.04
1 BR
1.02
2 BR
0.94
3 BR
0.99
4 BR
0.78
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 33487 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33487 (Boca Raton, FL) is $3,070 a month. That is up 7.0% from $2,870 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, 33487 has the 8th-highest two-bedroom rent (county range $1,080–$3,520). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33487 is 108% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 33487
BedroomsFY 2027Change90–110% range
Studio$2,490+9.2%$2,241–$2,739
1BR$2,620+8.3%$2,358–$2,882
2BR$3,070+7.0%$2,763–$3,377
3BR$3,990+7.3%$3,591–$4,389
4BR$4,600+6.7%$4,140–$5,060

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 33487
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,490$2,620$3,070$3,990$4,600
FY 2026$2,280$2,420$2,870$3,720$4,310
FY 2025$2,080$2,330$2,780$3,630$4,340
FY 2024$2,030$2,390$2,870$3,790$4,590
FY 2023$1,660$2,040$2,490$3,330$4,070

Two-bedroom rent in nearby Palm Beach County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 33487
33477$3,260+6.2%
33478$2,610−15.0%
33480$2,570−16.3%
33481$2,350−23.5%
33482$2,350−23.5%
33483$3,100+1.0%
33484$2,350−23.5%
33486$2,900−5.5%
33487Current$3,070—
33488$2,350−23.5%
33493$1,410−54.1%
33496$3,260+6.2%

Questions about ZIP 33487 rents

How much will Section 8 pay for a two-bedroom in ZIP 33487?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,070, that basic range is $2,763 to $3,377 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 33487 in?

ZIP 33487 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 33487 for FY 2027?

The two-bedroom FMR rose 7.0%, from $2,870 in FY 2026 to $3,070 in FY 2027. Since FY 2023 it has risen 23.3%.

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 rentBoca Raton, FL fair market rentFL statewide rentsWhat is SAFMR?Data sources