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 | $2,070 |
| 1 Bedroom | $2,130 |
| 2 Bedrooms | $2,480 |
| 3 Bedrooms | $3,170 |
| 4 Bedrooms | $3,850 |
| 5 Bedrooms | $4,466 |
| 6 Bedrooms | $5,002 |
| 7 Bedrooms | $5,402 |
| 8 Bedrooms | $5,672 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,130 | $230,839 | 0.92% | C |
| 2BR | $2,480 | $310,623 | 0.8% | D |
| 3BR | $3,170 | $399,206 | 0.79% | D |
| 4BR | $3,850 | $504,268 | 0.76% | D |
| 5BR | $4,466 | $552,951 | 0.81% | C |
U.S. Census Bureau data (2024)
The ZIP code 33607 in Tampa, FL, stands out within Hillsborough County due to its unique demographic and economic characteristics. With a population of 25,291 residents, it has a high rental rate of 63.0%, indicating a strong demand for housing in this area. The median income of $69,694 suggests that residents have a moderate level of financial stability, while the median home value of $362,956 reflects a relatively expensive housing market.
Landlords and small-portfolio investors should take note of the voucher economics in ZIP 33607. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $2,090, which is notably lower than the market rent, measured by the Zillow Rent Index (ZORI), at $2,250. This difference can impact the attractiveness of properties to tenants who rely on Section 8 vouchers. However, the higher market rent indicates that there is still potential for landlords to secure tenants willing to pay above the voucher rate.
Based on the data signature of ZIP 33607, the area reads as stable rather than transitional. The high percentage of renters combined with a moderate median income suggests a steady tenant base, while the relatively high median home value points to a stable property market. For landlords and investors, this means that while competition for Section 8 tenants might be present, the overall stability of the ZIP code offers a reliable investment environment.
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.