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 | $1,400 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,680 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,610 |
| 5 Bedrooms | $3,028 |
| 6 Bedrooms | $3,391 |
| 7 Bedrooms | $3,662 |
| 8 Bedrooms | $3,845 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,440 | $96,616 | 1.49% | A |
| 2BR | $1,680 | $151,460 | 1.11% | B |
| 3BR | $2,150 | $389,064 | 0.55% | F |
| 4BR | $2,610 | $587,224 | 0.44% | F |
| 5BR | $3,028 | $1,480,318 | 0.2% | F |
U.S. Census Bureau data (2024)
ZIP code 33613, located in Tampa, FL, positions itself within the larger Tampa-St. Petersburg-Clearwater, FL MSA. The Fair Market Rent (FMR) for ZIP 33613 in fiscal year 2024 is set at $1,650, which is notably higher than the average market rent of $1,491. This suggests that the area has a slightly higher cost of renting compared to other ZIP codes within the same metropolitan statistical area.
The median home value in ZIP 33613 stands at $313,617. This figure is reflective of a mid-tier neighborhood within the Tampa-St. Petersburg-Clearwater, FL MSA, where home values can vary widely depending on the specific location and amenities offered. However, it is important to note that the median home value alone does not fully indicate the overall desirability or investment potential of the area.
A significant factor to consider is the high renter share in ZIP 33613, which is reported at 68.1%. This high percentage of renters in an area with below-average home values within its metro could signal a potential sweet spot for Section 8 properties. High renter shares typically mean a robust demand for rental housing, which is particularly beneficial for landlords and small-portfolio investors looking to capitalize on the rental market dynamics.
The combination of above-average FMR and a substantial renter share, juxtaposed against below-average home values, points towards ZIP 33613 being a value pocket within its metro. Value pockets are areas where the cost of acquiring or renting property is relatively lower compared to surrounding areas, yet they still benefit from strong rental demand driven by a high proportion of residents who prefer or need to rent rather than own their homes.
In summary, ZIP 33613 presents itself as a promising opportunity for investors interested in the rental market within the Tampa-St. Petersburg-Clearwater, FL MSA. Its characteristics align well with what is typically sought after in Section 8 real estate analysis, indicating strong potential for both landlords and small-portfolio investors looking to enter or expand in this market segment.
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.