Section 8 Fair Market Rent (FMR) for ZIP 33621 - 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	$2,400
1 Bedroom	$2,480
2 Bedrooms	$2,880
3 Bedrooms	$3,680
4 Bedrooms	$4,470
5 Bedrooms	$5,185
6 Bedrooms	$5,807
7 Bedrooms	$6,272
8 Bedrooms	$6,586

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,393

Median Household Income

$107,188

Housing Units

565

Renter Percentage

100.0%

Occupancy Rate

88.0%

Renter Occupied

497

ZIP code 33621, located in Winter Park, Florida, is a desirable suburban area known for its proximity to major universities and cultural amenities. The local real estate market is primarily rental-focused, catering to students, young professionals, and families seeking affordable housing options.

The Fair Market Rent (FMR) for ZIP 33621 for fiscal year 2024 is set at $2,780, indicating the average rent price for a two-bedroom apartment under the Section 8 program.
The Census American Community Survey (ACS) reports that the market rent for the area is $2,703, which aligns closely with the FMR, suggesting a balanced rental market.
The median home value is not available, likely due to the high renter occupancy rate which stands at 100%.
The median household income in ZIP 33621 is $107,188, providing strong financial backing for potential tenants who can afford higher rents.
The Days on Market (DOM) figure is not applicable, as the data does not specify a typical time frame for property listings to be sold or leased.

In summary, ZIP 33621 presents a robust rental market driven by a high tenant demand and stable income levels. With the Fair Market Rent nearly matching the market rent, landlords and small-portfolio investors can expect consistent returns. However, the lack of available home values and specific DOM data suggests a predominantly rental-focused environment, where flipping properties might not be as lucrative as long-term leasing strategies.

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.