Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,840 |
| 1 Bedroom | $1,900 |
| 2 Bedrooms | $2,210 |
| 3 Bedrooms | $2,820 |
| 4 Bedrooms | $3,430 |
| 5 Bedrooms | $3,979 |
| 6 Bedrooms | $4,456 |
| 7 Bedrooms | $4,812 |
| 8 Bedrooms | $5,053 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 33634, Town 'n' Country, FL, for fiscal year 2024 is set at $2,140. This figure represents the maximum amount that the U.S. Department of Housing and Urban Development (HUD) will pay to cover a tenant's portion of the rent under the Section 8 program. It is important to note that this is not the actual rent you would charge your tenants; it is the reimbursement limit for the housing assistance.
In comparison, the local Zillow Rent Index (ZORI) for the same area stands at $1,862. This indicates that the market rent is slightly below the HUD reimbursement limit, which could be advantageous for landlords participating in the Section 8 program. Landlords can potentially charge a higher rent while still receiving full reimbursement from HUD, up to the FMR cap.
The renter share, which is the percentage of the population that rents, is 40.0%. This suggests a strong demand for rental properties in the area. With a significant portion of the population renting, there is a good chance that your property will attract interested tenants, especially those seeking housing assistance through Section 8.
When acquiring a new property in this area, expect an average price tag of around $375,316. This figure helps you understand the initial investment required to enter the Section 8 market in Town 'n' Country, FL. It also provides a basis for calculating potential returns on investment, including rental income and government subsidies.
Before deciding to participate in the Section 8 program with a property in ZIP 33634, ensure that the property meets all the necessary inspection standards. HUD requires that all Section 8 properties pass a thorough inspection to confirm they meet minimum housing quality standards. Failure to do so can result in non-payment or even termination from the program.
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.