Section 8 Fair Market Rent (FMR) for ZIP 33543 - 2027

Investment Score for ZIP 33543

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,210
1 Bedroom	$2,280
2 Bedrooms	$2,650
3 Bedrooms	$3,380
4 Bedrooms	$4,120
5 Bedrooms	$4,779
6 Bedrooms	$5,352
7 Bedrooms	$5,780
8 Bedrooms	$6,069

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$2,650	$245,511	1.08%	B
3BR	$3,380	$347,952	0.97%	C
4BR	$4,120	$469,597	0.88%	C
5BR	$4,779	$666,522	0.72%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 33543 (Wesley Chapel, FL) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 33543 is set by HUD for the year 2026. For a two-bedroom unit, the FMR is $2,730. This represents 30.5% of the median household income in Wesley Chapel, which stands at $107,349. However, it is important to note that the actual rental prices in the area can be significantly higher. The Zillow median price for a two-bedroom home is $249,587, indicating a price-to-FMR ratio of 7.6x. This means that the actual rent for a two-bedroom unit could be around $20,868 annually, or approximately $1,739 per month, if we assume a typical rental yield based on the median home value. Therefore, the FMR is substantially lower than the actual rental prices, creating significant constraints for voucher holders who may struggle to find units within their budget. #### Affordability & Renter Profile Given that only 14.8% of the population in Wesley Chapel are renters, the rental market is relatively small compared to the overall housing market. The occupancy rate of 92.3% suggests that there is a high demand for housing, including rentals, but the tight market conditions make it challenging for renters to find affordable options. With a median household income of $107,349, most residents are likely homeowners who can afford the high cost of living in the area. The limited number of renters indicates that the market is primarily composed of higher-income individuals who can pay above the FMR rates. This makes it difficult for Section 8 voucher holders to find suitable accommodation, as landlords may prefer tenants who can pay market rates. #### Investor Angle From an investor perspective, the ZIP code 33543 presents a mixed picture. While the FMRs are lower than the actual rental prices, the potential for cash flow positive investments exists if the investor can secure properties at or below the FMR levels. For instance, a two-bedroom unit with an FMR of $2,730 would need to be purchased at a price that allows for a reasonable return on investment while maintaining affordability for voucher holders. Given the Zillow median price of $249,587, the price-to-FMR ratio of 7.6x suggests that rental yields would be low if investors were to purchase properties at these levels. However, if an investor can acquire a property at a lower price point, closer to the FMR, then the investment could be cash-flow positive. The investment grade for this ZIP code would depend on the ability to find properties at or below the FMR levels. If such opportunities are available, the investment could be considered Grade B due to the high demand for housing and the strong economic fundamentals of the area. However, if the investor must pay close to the Zillow median price, the investment grade would drop to Grade C, given the low rental yields and the difficulty in attracting voucher holders. #### Specific Actionable Insights 1. **Target Lower Priced Properties:** Investors should focus on acquiring properties that are priced at or below the FMR levels. For example, a two-bedroom unit should ideally be purchased for less than $249,587 to ensure a cash-flow positive investment. This strategy will help in attracting and retaining Section 8 voucher holders. 2. **Consider Smaller Units:** Since the FMR for smaller units (like 0BR and 1BR) is lower, investing in these types of units might provide better returns. For instance, a one-bedroom unit with an FMR of $2,340 would require a purchase price of less than $178,452 to achieve a cash-flow positive investment. This could be a viable option for investors looking to maximize their returns. 3. **Engage with Local Landlords:** Given the tight rental market, engaging with local landlords to understand their willingness to accept Section 8 vouchers could be beneficial. Some landlords may be willing to rent at FMR levels if they are assured of timely payments and minimal administrative hassle. #### Bottom Line For Section 8-focused investors, the recommendation is to **Hold** or **Skip** this ZIP code unless they can find properties at significantly lower prices than the Zillow median. The high price-to-FMR ratio and the limited number of renters suggest that finding cash-flow positive investments will be challenging. Investors should carefully evaluate the local market conditions and consider alternative ZIP codes with more favorable price-to-FMR ratios and a larger rental population. --- This analysis provides a detailed overview of the rental market dynamics in ZIP code 33543, focusing on the challenges and opportunities for Section 8 voucher holders and investors. The key takeaway is that the market is tight and expensive, making it difficult for voucher holders to find affordable housing and for investors to achieve positive cash flows unless they can secure properties at a discount.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.