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 | $1,400 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,680 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,610 |
| 5 Bedrooms | $3,028 |
| 6 Bedrooms | $3,391 |
| 7 Bedrooms | $3,662 |
| 8 Bedrooms | $3,845 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,680 | $253,103 | 0.66% | D |
| 3BR | $2,150 | $338,315 | 0.64% | D |
| 4BR | $2,610 | $445,037 | 0.59% | F |
| 5BR | $3,028 | $531,818 | 0.57% | F |
U.S. Census Bureau data (2024)
ZIP code 33566, located in Plant City, Florida, stands out within Hillsborough County due to its unique demographic and economic characteristics. With a population of 24,521, 27.6% of residents are renters, indicating a significant portion of the housing market dedicated to rental properties. The median income here is $72,393, which supports a robust local economy but also suggests a need for affordable housing options. The median home value of $362,400 reflects the overall stability and desirability of the area.
The voucher economics in Plant City present an interesting opportunity for landlords and small-portfolio investors. The Fair Market Rent (FMR) for ZIP 33566 for fiscal year 2024 is set at $1,770, while the market rent, measured by ZORI (Zillow Observed Rent Index), is $2,198. This means that landlords can potentially receive a higher rent payment through Section 8 vouchers compared to the average market rate, making it financially advantageous to accept these vouchers.
The data signature for ZIP 33566 reads as stable. The relatively high median income supports the ability of residents to afford living in the area, and the median home value indicates a strong property market. The discrepancy between the FMR and the market rent presents a clear incentive for landlords to participate in the Section 8 program, ensuring steady cash flow and reducing vacancy rates. For small-portfolio investors, this ZIP code offers a secure investment environment where the demand for affordable housing meets the financial benefits of participating in the voucher system.
Summary:
Given these factors, ZIP 33566 appears to be a stable area with a favorable environment for landlords and investors who choose to accept Section 8 vouchers. The financial incentives provided by the voucher system align well with the local market conditions, offering a reliable source of income.
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.