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 | $1,470 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,770 |
| 3 Bedrooms | $2,260 |
| 4 Bedrooms | $2,750 |
| 5 Bedrooms | $3,190 |
| 6 Bedrooms | $3,573 |
| 7 Bedrooms | $3,859 |
| 8 Bedrooms | $4,052 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,520 | $191,580 | 0.79% | D |
| 2BR | $1,770 | $266,468 | 0.66% | D |
| 3BR | $2,260 | $337,307 | 0.67% | D |
| 4BR | $2,750 | $421,670 | 0.65% | D |
| 5BR | $3,190 | $599,759 | 0.53% | F |
U.S. Census Bureau data (2024)
The ZIP code 33584, located in Seffner, FL, has a population of 28,579 residents. With 24.7% of the population being renters, it indicates that this area is moderately renter-heavy. The median household income in this ZIP is $72,267, which provides a basis for understanding the affordability of housing. The market rent for the area is $2,136 per month, representing approximately 33.6% of the median household income. This percentage suggests that rent constitutes a significant portion of the average resident's income, potentially making affordability a concern for many tenants.
To further assess the depth of voucher demand, we compare the market rent to the Fair Market Rent (FMR), which is set at $1,820 per month for FY 2024. The discrepancy between the market rent ($2,136) and the FMR ($1,820) indicates that there might be a gap in affordability for tenants relying on vouchers. Landlords should anticipate that voucher holders will find it challenging to cover the full market rent without additional financial assistance, highlighting a potential need for flexibility in rental pricing.
In terms of the tenant profile, landlords in Seffner, FL, can expect a mix of low-income individuals who rely heavily on Section 8 vouchers due to the high market rent relative to their income. These tenants will likely require the landlord to accept a lower rent amount, closer to the FMR, to make the housing affordable. Additionally, landlords may encounter tenants who supplement their vouchers with personal funds to meet the higher market rents, indicating a willingness to pay more but still needing financial aid.
The analysis of the ZIP code 33584 suggests that while it is not dominated by homeowners, it also does not have an overwhelmingly deep voucher demand. Landlords should prepare for a scenario where they must balance between the higher market rents and the affordability constraints faced by voucher holders. Offering competitive rental rates that align closely with the FMR could attract a steady stream of tenants, ensuring better occupancy and reduced vacancy periods.
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.