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 | $2,010 |
| 1 Bedroom | $2,070 |
| 2 Bedrooms | $2,410 |
| 3 Bedrooms | $3,080 |
| 4 Bedrooms | $3,740 |
| 5 Bedrooms | $4,338 |
| 6 Bedrooms | $4,859 |
| 7 Bedrooms | $5,248 |
| 8 Bedrooms | $5,510 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,070 | $183,819 | 1.13% | B |
| 2BR | $2,410 | $318,767 | 0.76% | D |
| 3BR | $3,080 | $494,394 | 0.62% | D |
| 4BR | $3,740 | $918,906 | 0.41% | F |
| 5BR | $4,338 | $1,577,748 | 0.27% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 33611 in Tampa, FL, on the axes of yield and stability reveals a mixed profile that leans towards a steady-cashflow zone but with some high-yield characteristics.
Yield: The Fair Market Rent (FMR) for ZIP 33611 is set at $2070 for fiscal year 2024, which is below the market rent of $2,234. However, the median home value is significantly higher at $478,168. This suggests that while rental yields may be moderate due to the lower FMR compared to market rates, there is potential for higher capital appreciation if property values continue to rise. Landlords and small-portfolio investors should expect to generate cash flow based on the actual market rents rather than the FMR.
Stability: Stability indicators show a relatively balanced picture. With 46.3% of the population being renters, there is a consistent demand for rental properties. The days on market (DOM) figure of 44 days indicates a reasonable level of turnover, suggesting that rental properties can be filled without significant delay. Additionally, the median household income of $90,910 supports the ability of residents to pay rent, contributing to the stability of cash flows.
To summarize, ZIP 33611 is not a high-yield/low-stability flip-style market. Instead, it offers a middle ground where steady cash flow can be expected with some risk for fluctuation in rental yields. The strong rental demand and reasonable DOM suggest a stable environment, while the gap between FMR and market rent points to opportunities for higher returns through market pricing. For investors, this means focusing on properties that can command the higher market rent to maximize yield, while also benefiting from a relatively stable tenant base.
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.