Section 8 Fair Market Rent (FMR) for ZIP 33558 - 2027

Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, FL MSA

Investment Score for ZIP 33558

Monthly Rent (2BR)

$1,860

Median Price (2BR)

$254,592

1% Rule

0.73%

Annual Yield

8.77%

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	$1,550
1 Bedroom	$1,600
2 Bedrooms	$1,860
3 Bedrooms	$2,380
4 Bedrooms	$2,890
5 Bedrooms	$3,352
6 Bedrooms	$3,754
7 Bedrooms	$4,054
8 Bedrooms	$4,257

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
1BR	$1,600	$140,225	1.14%	B
2BR	$1,860	$254,592	0.73%	D
3BR	$2,380	$448,912	0.53%	F
4BR	$2,890	$657,396	0.44%	F
5BR	$3,352	$765,314	0.44%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

33,165

Median Household Income

$116,090

Housing Units

12,333

Renter Percentage

28.1%

Occupancy Rate

96.5%

Renter Occupied

3,339

The ZIP code 33558, located in Lutz, Florida, is a suburban area known for its family-friendly environment and proximity to Tampa. This region offers a mix of single-family homes and rental properties, catering to both homeowners and renters. Here's a concise market analysis based on key data points:

The Fair Market Rent (FMR) for a two-bedroom apartment in Lutz for fiscal year 2024 is set at $1,800.
The Zillow Observed Rent Index (ZORI), which reflects actual rental prices, stands at $2,209 for the same property type.
The median home value in the area is $544,706, indicating a relatively stable housing market.
Renters make up 28.1% of the local population, showing a significant demand for rental properties.
The days on market (DOM) for rental listings average 46 days, suggesting a moderate speed in finding tenants.
The median household income in Lutz is $116,090, providing insight into the economic health and potential tenant affordability.

Investors looking to enter the Lutz market should consider the gap between FMR and ZORI, which indicates higher-than-average rental prices. The substantial median home value and median income suggest a strong economic foundation that supports both homeownership and rental markets. With nearly a third of the population renting, there is a notable demand for rental units, though the 46-day DOM suggests a slightly longer wait time for securing tenants. Overall, Lutz presents a promising opportunity for those willing to invest in properties that cater to the local rental market.

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.