Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,640 |
| 1 Bedroom | $1,690 |
| 2 Bedrooms | $1,970 |
| 3 Bedrooms | $2,520 |
| 4 Bedrooms | $3,060 |
| 5 Bedrooms | $3,550 |
| 6 Bedrooms | $3,976 |
| 7 Bedrooms | $4,294 |
| 8 Bedrooms | $4,509 |
To fit ZIP 33583 into a Section 8 portfolio strategy, it's essential to understand its characteristics relative to the broader Tampa-St. Petersburg-Clearwater, FL MSA. Given the available data, ZIP 33583 stands out as a potential cash-flow anchor.
The Fair Market Rent (FMR) for ZIP 33583 in fiscal year 2024 is set at $1900 for a one-bedroom unit. This figure is critical because it represents the maximum rental amount that can be charged to tenants participating in the Section 8 Housing Choice Voucher program. In contrast, the market rent for similar units in this ZIP code is not provided, which suggests that there might be limited data on typical market rates. However, given the FMR figure, landlords can expect stable cash flow from tenants who have their rent subsidized up to this amount.
A cash-flow anchor is a property investment that provides consistent and reliable income, often crucial in balancing a portfolio against riskier investments. ZIP 33583 serves this role well due to the guaranteed rental income from Section 8 vouchers. The absence of data on median home values and market rents indicates that this area may not be experiencing rapid appreciation or high demand in the private rental market, making it less likely to be an appreciation play or a diversifier based on the provided metrics.
In conclusion, ZIP 33583 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. Landlords can rely on the steady stream of income from the $1900 FMR, providing a solid foundation for their investment portfolio. While appreciation and diversification opportunities are not quantified here, the stability offered by this ZIP code makes it a valuable component for those seeking predictable returns.
Data Sources: FMR data from HUD (2027).
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.