Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,640 |
| 1 Bedroom | $1,690 |
| 2 Bedrooms | $1,970 |
| 3 Bedrooms | $2,520 |
| 4 Bedrooms | $3,060 |
| 5 Bedrooms | $3,550 |
| 6 Bedrooms | $3,976 |
| 7 Bedrooms | $4,294 |
| 8 Bedrooms | $4,509 |
The analysis of ZIP code 33675 within the Tampa-St. Petersburg-Clearwater, FL MSA reveals several key points for potential Section 8 landlords and small-portfolio investors.
The first question is whether the rent math works. The Fair Market Rent (FMR) for ZIP 33675 in fiscal year 2024 is set at $1900. However, the lack of specific market rent data makes it challenging to directly compare. Assuming the FMR aligns closely with the market conditions, landlords can expect to receive $1900 per month, which should cover their operational costs and provide a reasonable profit margin if expenses are managed effectively.
Regarding the affordability of acquisitions, the median home value data is not available. This absence complicates the assessment of whether buying properties in this area is cost-effective for investors. Without the median home value, it's also difficult to gauge the typical days on market (DOM) and the percentage of homes that require price cuts. These metrics would typically indicate how competitive the market is and how long it might take to sell a property, which are crucial factors for determining investment strategy.
The third question concerns tenant demand. The population data for ZIP 33675 is not specified, nor is the percentage of renters. Tenant demand is a critical factor for rental properties, especially those participating in the Section 8 program. Without these figures, it's impossible to quantify the number of potential tenants who might be interested in renting under Section 8 guidelines.
In summary, while the FMR of $1900 provides a clear rental income benchmark, the missing data on market rent, median home values, DOM, price cut percentages, population, and renter share leaves significant gaps in the overall picture. Landlords and investors should seek out additional local real estate and demographic data to make informed decisions about entering this market. Despite the positive aspects of the FMR, the incomplete dataset prevents a definitive recommendation.
Data Sources: FMR data from HUD (2027).
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.