Section 8 Fair Market Rent (FMR) for ZIP 33569 - 2027

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

Investment Score for ZIP 33569

Monthly Rent (2BR)

$2,600

Median Price (2BR)

$264,913

1% Rule

0.98%

Annual Yield

11.78%

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	$2,170
1 Bedroom	$2,240
2 Bedrooms	$2,600
3 Bedrooms	$3,320
4 Bedrooms	$4,040
5 Bedrooms	$4,686
6 Bedrooms	$5,248
7 Bedrooms	$5,668
8 Bedrooms	$5,951

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
2BR	$2,600	$264,913	0.98%	C
3BR	$3,320	$346,075	0.96%	C
4BR	$4,040	$426,582	0.95%	C
5BR	$4,686	$526,831	0.89%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

27,867

Median Household Income

$105,275

Housing Units

10,902

Renter Percentage

15.5%

Occupancy Rate

92.6%

Renter Occupied

1,564

To determine if a landlord should invest in ZIP 33569 (Riverview, FL) for Section 8 properties, follow these steps:

Step 1: Does the Fair Market Rent ($2350) cover the debt service on a $389,770 property?

No: The Fair Market Rent (FMR) of $2350 does not sufficiently cover the debt service on a property valued at $389,770. This indicates that purchasing a property at this price point would likely result in financial losses, making it an unwise investment.

Step 2: Is the market rent ($2,396 ZORI) above, at, or below the FMR?

Below: The market rent, as indicated by the Zillow Rent Index (ZORI), is $2,396, which is slightly below the FMR of $2350. This suggests that the rental market is not providing sufficient returns to justify investment based solely on market rent.

Step 3: Are 15.5% of residents renters and the 50-day days on market (DOM) indicative of enough demand?

It Depends: With 15.5% of residents being renters and an average DOM of 50 days, there is some demand but it's not robust. A DOM of 50 days suggests that properties are moving relatively quickly, but the percentage of renters is modest. Landlords must weigh the moderate demand against the lower FMR and market rent.

In conclusion, ZIP 33569 presents challenges for Section 8 investments due to the low FMR relative to property values and market rent being slightly below the FMR. While there is some rental demand, it is not strong enough to compensate for the financial constraints. Therefore, unless the landlord can find properties significantly below the median value of $389,770 or expects the rental market to improve, investing in this ZIP code for Section 8 is not recommended.

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.