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 | $1,860 |
| 1 Bedroom | $1,920 |
| 2 Bedrooms | $2,230 |
| 3 Bedrooms | $2,850 |
| 4 Bedrooms | $3,460 |
| 5 Bedrooms | $4,014 |
| 6 Bedrooms | $4,496 |
| 7 Bedrooms | $4,856 |
| 8 Bedrooms | $5,099 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,230 | $257,717 | 0.87% | C |
| 3BR | $2,850 | $420,483 | 0.68% | D |
| 4BR | $3,460 | $554,905 | 0.62% | D |
| 5BR | $4,014 | $671,118 | 0.6% | F |
U.S. Census Bureau data (2024)
Town 'n' Country, located in ZIP code 33635 within the Tampa-St. Petersburg-Clearwater, FL MSA, presents a unique scenario when compared to typical ZIP codes within this metropolitan area. The Fair Market Rent (FMR) for ZIP 33635 in fiscal year 2024 is set at $2230. This figure exceeds the market rent of $1,932, indicating that the government's estimate for affordable housing is higher than what the market currently demands.
The median home value in Town 'n' Country stands at $445,869, which is notably above average for the broader Tampa-St. Petersburg-Clearwater MSA. This suggests that ZIP 33635 leans towards being a premium sub-market within the metro, characterized by higher property values and likely more affluent residents.
Despite its premium status, the ZIP code has a significant renter share of 36.1%. This percentage is relatively high, especially considering the elevated home values. Such a combination—high renter share with above-average home values—can sometimes indicate an area where Section 8 vouchers are particularly attractive to renters due to the disparity between FMR and market rent.
In summary, ZIP 33635 appears to be a premium sub-market within the Tampa-St. Petersburg-Clearwater MSA, with higher-than-average home values and a substantial proportion of renters. The higher FMR compared to market rent could make it a favorable location for tenants using Section 8 vouchers, potentially creating a niche market for landlords willing to accept these vouchers.
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.