Section 8 Fair Market Rent (FMR) for ZIP 33620 - 2027
Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, FL MSA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,480 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,270 |
| 4 Bedrooms | $2,760 |
| 5 Bedrooms | $3,202 |
| 6 Bedrooms | $3,586 |
| 7 Bedrooms | $3,873 |
| 8 Bedrooms | $4,067 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$N/A
To determine if you should buy in ZIP code 33620 for Section 8 investment, follow this decision tree:
- Does the Fair Market Rent (FMR) of $1680 cover the debt service on your potential property?
- If yes: Proceed to the next question.
- If no: Do not invest in this ZIP code as the rental income will not be sufficient to cover your mortgage and other expenses.
- Is the market rent above, at, or below the FMR of $1680?
- If market rent is above $1680: This indicates strong demand for rentals, which can be beneficial even though Section 8 tenants pay the FMR. Continue to the next step.
- If market rent is at $1680: The market rent matches the FMR, making the ZIP code suitable for Section 8 investments. Proceed to the final question.
- If market rent is below $1680: This suggests weak demand, and relying solely on Section 8 rents may not be financially viable. Consider other options.
- Are 100.0% of the residents renters and do they have an average of N/A days on the market (DOM)?
- If there is a high percentage of renters and low DOM: This signals a robust rental market with quick turnover, which is favorable for Section 8 properties. Invest in this ZIP code.
- If the percentage of renters is high but DOM is not specified: It depends on how quickly you can find tenants. High renter percentages suggest demand, but without DOM data, you cannot fully assess the speed of leasing properties.
- If either renters' percentage or DOM data is unfavorable: This ZIP code might not be ideal for Section 8 investments due to insufficient demand or slow leasing times. Look for alternative areas.
Note: Due to missing data points for market rent and days on the market, some decisions rely on additional research. Ensure you gather comprehensive local real estate data before making any investment decisions.
Data Sources: FMR data from HUD (2027). 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.