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 | $1,870 |
| 1 Bedroom | $1,930 |
| 2 Bedrooms | $2,250 |
| 3 Bedrooms | $2,870 |
| 4 Bedrooms | $3,490 |
| 5 Bedrooms | $4,048 |
| 6 Bedrooms | $4,534 |
| 7 Bedrooms | $4,897 |
| 8 Bedrooms | $5,142 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,250 | $316,860 | 0.71% | D |
| 3BR | $2,870 | $416,456 | 0.69% | D |
| 4BR | $3,490 | $545,401 | 0.64% | D |
| 5BR | $4,048 | $729,443 | 0.55% | F |
U.S. Census Bureau data (2024)
The ZIP code 33625, located in Citrus Park, Florida, presents an interesting scenario for both renters and landlords. The median household income in this area stands at $93,133. Considering the market rate for rent, which is set at $1,955 per month (ZORI), it becomes evident that the majority of residents can comfortably afford the typical rental costs without financial strain.
However, when comparing the market rate to the federal housing voucher payment standard, which is pegged at $2,280 for the fiscal year 2024, it reveals a significant gap in affordability. This means that voucher holders might find it challenging to secure properties that meet the standard ZORI price, as their vouchers could cover a higher amount. Consequently, landlords have the opportunity to attract both cash-paying tenants and those utilizing housing vouchers.
The population of ZIP 33625 is 29,967, with 33.3% of them being renters. This indicates a notable demand for rental properties within the area. Given the disparity between the market rent and the voucher payment standard, landlords face a unique situation where they must consider the balance between accepting voucher payments and relying on cash-paying tenants.
The takeaway for landlords considering their strategy in ZIP 33625 is clear: there is a substantial portion of the population that can afford the market rate, but also a significant number who might be supported by housing vouchers. Landlords should weigh the benefits of accepting vouchers, such as guaranteed rent through the government, against the potential for slightly higher rents from cash-paying tenants. It's important to understand the local rental market dynamics and the preferences of your target tenant base to make informed decisions. In Citrus Park, landlords have a competitive edge by offering a mix of properties that cater to both types of tenants, thereby maximizing occupancy rates and income stability.
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.