Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Lakeland-Winter Haven, 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 | $2,330 |
| 1 Bedroom | $2,410 |
| 2 Bedrooms | $2,800 |
| 3 Bedrooms | $3,580 |
| 4 Bedrooms | $4,350 |
| 5 Bedrooms | $5,046 |
| 6 Bedrooms | $5,652 |
| 7 Bedrooms | $6,104 |
| 8 Bedrooms | $6,409 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,800 | $296,093 | 0.95% | C |
| 3BR | $3,580 | $389,900 | 0.92% | C |
| 4BR | $4,350 | $560,902 | 0.78% | D |
| 5BR | $5,046 | $724,179 | 0.7% | D |
U.S. Census Bureau data (2024)
The dynamics of ZIP code 33547, located in Lithia, Florida, reveal a market in motion. The Fair Market Rent (FMR) for the area stands at $2780 for fiscal year 2024, while the actual market rent, measured by Zillow's Observed Rent Index (ZORI), is slightly lower at $2,402. This suggests that rental prices are competitive but may not fully reflect the FMR, indicating potential for growth as the market adjusts.
The 0.3% price-cut share signals that landlords are rarely needing to reduce their asking rents to attract tenants, which is a positive sign for maintaining rental income stability. Coupled with a 29-day Days on Market (DOM), it becomes evident that properties are moving relatively quickly once listed, hinting at a robust demand for rental units.
A median home value of $515,449 places significant financial pressure on potential homeowners, particularly in a market where the rental rates are also high. For those who cannot afford to buy, renting becomes a necessity, thus putting upward pressure on rental demand.
The 18.5% renter share is noteworthy. It indicates a substantial portion of the population relies on rentals rather than owning homes. This could suggest a long-term housing pressure scenario where a considerable number of residents are likely to remain renters due to affordability constraints or lifestyle choices. As such, the rental market is expected to sustain its current demand levels, potentially increasing as the population grows and more individuals find homeownership out of reach.
In summary, the snapshot of ZIP 33547 points towards a market where demand is strong, possibly outpacing supply given the quick turnover of rental listings and the high median home values. Landlords and small-portfolio investors can expect steady rental income with limited need for concessions, positioning Lithia, FL, as an attractive market for rental investments.
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.