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 | $1,760 |
| 1 Bedroom | $1,810 |
| 2 Bedrooms | $2,110 |
| 3 Bedrooms | $2,700 |
| 4 Bedrooms | $3,280 |
| 5 Bedrooms | $3,805 |
| 6 Bedrooms | $4,262 |
| 7 Bedrooms | $4,603 |
| 8 Bedrooms | $4,833 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,810 | $119,910 | 1.51% | A+ |
| 2BR | $2,110 | $213,714 | 0.99% | C |
| 3BR | $2,700 | $309,659 | 0.87% | C |
| 4BR | $3,280 | $380,915 | 0.86% | C |
| 5BR | $3,805 | $447,060 | 0.85% | C |
U.S. Census Bureau data (2024)
Riverview, specifically the 33578 ZIP code, offers investors a blend of suburban stability and expanding infrastructure. This area has transformed from a quiet bedroom community into a bustling suburb with convenient access to downtown Tampa via the nearby Selmon Expressway. The neighborhood retains a family-oriented atmosphere, bolstered by the presence of major regional employers such as the Tampa General Hospital Health System, which operates facilities in the greater South Shore area, providing a steady economic base for potential renters.
From a numerical perspective, the gap between government subsidies and private market rents is a critical factor. The HUD Fair Market Rent (FMR) for a 2-bedroom unit in FY2026 is set at $2,290, while the current market rent (Zillow ZORI) sits at $1,951. This results in a substantial premium of $339 per month for voucher holders, suggesting strong potential for cash flow. The area’s median home value is $338,405, with a median 2BR sale price of $219,038, while properties typically sit on the market for 56 days, indicating a moderate turnover pace that is neither stagnant nor hyper-competitive.
The tenant pool here is robust, supported by a 41.4% renter share and a median household income of $85,921. This income level is well above the threshold typically required to sustain market-rate rents of $1,951, signaling financial resilience among the local population. Demand is further underpinned by the quality of local education, with public schools in the Hillsborough County district generally receiving favorable ratings, which continues to attract families looking for long-term housing stability.
For Section 8 investors, the strongest angle is undeniably cash flow. The $339 gap between the 2-bedroom FMR and market rent allows investors to secure payments significantly above the going rate, reducing vacancy risk. With a median 2BR price of $219,038 and the ability to command $2,290 via vouchers, the yield potential stands out compared to surrounding markets. The data indicates that Riverview 33578 is a high-performing market for voucher-assisted units.
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.