Location: Tampa-St. Petersburg-Clearwater, FL | Metro: North Port-Bradenton-Sarasota, 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 | $1,380 |
| 1 Bedroom | $1,430 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,580 |
| 5 Bedrooms | $2,993 |
| 6 Bedrooms | $3,352 |
| 7 Bedrooms | $3,620 |
| 8 Bedrooms | $3,801 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,660 | $321,217 | 0.52% | F |
| 3BR | $2,120 | $337,790 | 0.63% | D |
| 4BR | $2,580 | $343,593 | 0.75% | D |
| 5BR | $2,993 | $382,951 | 0.78% | D |
U.S. Census Bureau data (2024)
In Wimauma, FL (ZIP 33598), the current median home value stands at $350,171. This figure, combined with the observation that only 0.3% of listings have been reduced, suggests a market where sellers maintain significant pricing power. The low percentage of price reductions indicates that homes are selling close to their asking prices, or that sellers are holding firm on their values despite market conditions. This scenario typically points towards a seller's market, where the demand for housing exceeds supply.
The 60-day median Days on Market (DOM) further supports the notion of strong seller pricing power. A shorter DOM means homes are selling quickly, which can be a sign of robust buyer interest and a competitive market. This quick turnover can lead to bidding wars, pushing prices higher and giving sellers more leverage when negotiating deals.
From a rental perspective, the Federal Market Rent (FMR) for ZIP 33598 in fiscal year 2024 is set at $1,410. However, the actual market rent, measured by the Zillow Observed Rent Index (ZORI), stands at $2,292. This discrepancy between government estimates and market realities underscores a potentially lucrative opportunity for landlords and small-portfolio investors. The higher market rent suggests that there is strong demand for rentals, and that investors can command higher rents than what might be expected based on government projections alone.
For long-term investors, the setup in Wimauma implies a realistic appreciation thesis. The combination of a stable median home value, low price reduction rates, and a favorable rental market suggests that property values are likely to remain steady or even increase slightly over the next 12-24 months. The quick sales pace and strong rental income provide a solid foundation for maintaining or growing investment portfolios without significant risk of depreciation.
However, it's important to note that while the current indicators point towards stability and potential appreciation, they do not guarantee future performance. Investors should continue to monitor local economic trends, housing demand, and rental market dynamics closely to make informed decisions.
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.