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 | $2,400 |
| 1 Bedroom | $2,480 |
| 2 Bedrooms | $2,880 |
| 3 Bedrooms | $3,680 |
| 4 Bedrooms | $4,470 |
| 5 Bedrooms | $5,185 |
| 6 Bedrooms | $5,807 |
| 7 Bedrooms | $6,272 |
| 8 Bedrooms | $6,586 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,880 | $292,699 | 0.98% | C |
| 3BR | $3,680 | $377,518 | 0.97% | C |
| 4BR | $4,470 | $486,015 | 0.92% | C |
| 5BR | $5,185 | $628,516 | 0.82% | C |
U.S. Census Bureau data (2024)
ZIP 33596, located in Valrico, FL, within the Tampa-St. Petersburg-Clearwater MSA, is best categorized as an appreciation play in a Section 8 portfolio strategy. This classification is based on the ZIP code's low price-cut share at just 0.3%, indicating that properties here maintain their value well without needing significant discounts to sell. Additionally, the days on market (DOM) figure stands at 43 days, which is relatively short, suggesting strong demand and quick turnover for listings.
To further support this strategy, consider the following metrics. The Fair Market Rent (FMR) for ZIP 33596 in fiscal year 2024 is set at $2780, while the average market rent is slightly lower at $2623. Despite the slight difference, the FMR provides a buffer for landlords participating in Section 8, ensuring they receive a competitive rental rate. The median home value in this ZIP code is $460,041, which is substantial but not out of reach given the median household income of $116,465. This income level suggests that residents have the financial capability to afford higher-end housing, potentially driving up property values over time.
The 16.4% renter share indicates that while there is a notable percentage of renters, the majority of the population owns their homes. This dynamic can be advantageous for Section 8 landlords, as it implies a stable and desirable market for both renting and eventual resale. The combination of strong property values, low need for price cuts, and quick sales times makes ZIP 33596 a solid choice for appreciation plays within a Section 8 portfolio.
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.