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 | $2,280 |
| 1 Bedroom | $2,360 |
| 2 Bedrooms | $2,740 |
| 3 Bedrooms | $3,500 |
| 4 Bedrooms | $4,250 |
| 5 Bedrooms | $4,930 |
| 6 Bedrooms | $5,522 |
| 7 Bedrooms | $5,964 |
| 8 Bedrooms | $6,262 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,500 | $325,387 | 1.08% | B |
| 4BR | $4,250 | $411,962 | 1.03% | B |
| 5BR | $4,930 | $511,415 | 0.96% | C |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 33545 in fiscal year 2024 is set at $2,570. This figure represents the payment standard for landlords participating in the Section 8 program, meaning that the government will cover up to this amount for eligible tenants. However, it's important to note that this is not the rent you charge; it's the maximum subsidy you can receive.
In comparison, the local market rent for ZIP code 33545 is estimated at $2,196, which is the average rent for similar properties. This suggests that if your property meets the quality standards, you can expect to be reimbursed up to $2,570 per month, potentially higher than the typical market rate.
The 17.3% renter share indicates that nearly one in every five households in the area are renters, signaling a significant demand for affordable housing. This makes ZIP 33545 an attractive location for those interested in the Section 8 program, as there is a substantial pool of potential tenants who could benefit from subsidized housing.
When considering the acquisition cost of a property in this ZIP code, the median home value is around $393,352. This is a key figure when evaluating whether a Section 8 rental fits into your investment strategy. It reflects the total investment required to enter the market and should be balanced against the expected monthly income and any additional costs such as maintenance and management fees.
Before proceeding with a Section 8 rental in ZIP 33545, ensure your property meets the Housing Quality Standards (HQS). These standards are mandatory and cover a wide range of criteria to ensure the property is safe, decent, and sanitary for tenants. Compliance with HQS is essential for receiving subsidies and avoiding penalties.
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.