Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, FL MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,840 |
| 1 Bedroom | $1,900 |
| 2 Bedrooms | $2,210 |
| 3 Bedrooms | $2,820 |
| 4 Bedrooms | $3,430 |
| 5 Bedrooms | $3,979 |
| 6 Bedrooms | $4,456 |
| 7 Bedrooms | $4,812 |
| 8 Bedrooms | $5,053 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,210 | $219,628 | 1.01% | B |
| 3BR | $2,820 | $340,522 | 0.83% | C |
| 4BR | $3,430 | $422,017 | 0.81% | C |
| 5BR | $3,979 | $610,642 | 0.65% | D |
U.S. Census Bureau data (2024)
Brandon, ZIP code 33511, serves as a major suburban hub within Hillsborough County, characterized by a blend of established residential neighborhoods and high-traffic commercial corridors. The area is defined by its convenient access to Interstate 75 and State Road 60, making it a practical choice for commuters working in downtown Tampa or the surrounding business districts. A key institutional anchor in the region is the Brandon Regional Hospital, which provides significant local employment and contributes to the area's stability. The community generally offers a family-friendly atmosphere with abundant retail options along the Brandon Boulevard strip, balancing suburban quiet with commercial convenience.
From a valuation standpoint, the numbers present a clear divergence between market rates and HUD subsidies. The FY2026 HUD Fair Market Rent for a 2-bedroom unit is set at $2,360, whereas the current market rent (Zillow ZORI) sits at $1,814. This creates a substantial premium gap of $546 per month for voucher holders. Meanwhile, the median home value in the ZIP is $364,035, with a median 2BR sale price of $223,244. Properties are moving at a moderate pace, with a median of 50 days on market, indicating neither a frenzy nor a stagnation in sales activity.
The tenant pool here is robust, driven by a renter share of 44.2% and a median household income of $81,301. While the local income suggests that many residents can afford market-rate housing, the high cost of homeownership relative to the median 2BR price points to sustained demand for rentals. For investors relying on Section 8, the local public school system is a significant draw for families; area schools generally hold "B" ratings from the state, which helps maintain consistent demand for larger 3- and 4-bedroom units where the FMR increases sharply to $3,020 and $3,670, respectively.
The Section 8 verdict for 33511 leans heavily toward cash flow as the primary investment angle. Because the 2BR FMR exceeds market rent by $546, voucher holders effectively offer a revenue floor well above the going rate for private tenants. With the 4BR FMR reaching $3,670, the potential for strong monthly yields on multi-bedroom properties is pronounced, provided acquisition costs align with the current median values. Investors should target larger floor plans to maximize the differential between the capped market rent and the higher HUD allowances.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.