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 | $1,340 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,060 |
| 4 Bedrooms | $2,500 |
| 5 Bedrooms | $2,900 |
| 6 Bedrooms | $3,248 |
| 7 Bedrooms | $3,508 |
| 8 Bedrooms | $3,683 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,380 | $151,945 | 0.91% | C |
| 2BR | $1,610 | $207,372 | 0.78% | D |
| 3BR | $2,060 | $287,673 | 0.72% | D |
| 4BR | $2,500 | $347,822 | 0.72% | D |
| 5BR | $2,900 | $379,482 | 0.76% | D |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 33563 in Plant City, Florida, reveals that the Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD) for FY 2024 is $1,570. This figure is notably below the current market rent, which stands at $1,859 according to ZORI (Zillow Observed Rent Index). As such, landlords and small-portfolio investors relying solely on the HUD FMR will experience negative cash flow, meaning that the rental income from voucher tenants will not cover the costs of property ownership.
To further contextualize the financial landscape, the median home value in ZIP 33563 is $281,103. Using this, we can calculate the rent-to-price ratio, which comes out to approximately 0.66%. This ratio indicates that the rental income generated from properties in this area is relatively low compared to their purchase price, suggesting that the primary benefit of investing in this market might not be through rental income alone.
The median Days on Market (DOM) for listings is 42 days, and the percentage of homes that have experienced price cuts is just 0.3%. These figures imply that the real estate market in Plant City is stable and that homes are generally selling without significant reductions in asking price. However, these metrics do not directly influence the decision-making process for rental versus buying dynamics, as they pertain more to the sales market.
In conclusion, given the discrepancy between the HUD FMR and the market rent, voucher tenants in ZIP 33563 will only cash flow when renting out premium units, those that command rents closer to the market rate. The strongest investor angle in this market appears to be stability, as evidenced by the low percentage of price cuts and the relatively quick turnover of listings. This stability can provide a solid foundation for long-term investment strategies, even if short-term cash flow is modest.
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.