Section 8 Fair Market Rent (FMR) for ZIP 33680 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 in ZIP code 33680, located in Hillsborough County, Florida, which includes the Tampa-St. Petersburg-Clearwater area, can be straightforward if you understand how the payments work. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) is set at $1900 per month for fiscal year 2024. This figure is specifically tailored for this ZIP code, meaning it reflects the rental conditions unique to 33680.

A landlord might wonder how much of this SAFMR is actually paid out to them. The answer depends on the specifics of the voucher and the tenant's contribution. A tenant using a Section 8 voucher is typically required to pay 30% of their adjusted income towards rent. This amount can vary, but for simplicity, let’s assume an average tenant contribution of $570 per month, which is based on a hypothetical adjusted income of $1900. This leaves $1330 for the housing authority to cover, assuming the tenant’s income aligns with the SAFMR.

However, the housing authority does not simply subtract the tenant’s share from the SAFMR to determine the reimbursement amount. Instead, they consider the actual rent of comparable units in the area, which is currently not available (N/A). If the actual market rent for a similar two-bedroom unit is below $1900, the housing authority will reimburse the landlord up to the market rent level plus any applicable utility allowances. Utility allowances are additional funds provided to cover utilities, though these amounts are not specified in the data provided.

To illustrate, if the actual market rent for a two-bedroom apartment in ZIP 33680 is $1700, the housing authority would reimburse the landlord $1700 minus the tenant’s contribution of $570, resulting in a reimbursement of $1130. If the market rent exceeds $1900, the landlord will still only receive up to the SAFMR limit, which in this case is $1900, minus the tenant’s share.

In summary, the typical reimbursement gap or surplus for a two-bedroom apartment in ZIP 33680 can be calculated by comparing the actual market rent to the SAFMR. Given the SAFMR of $1900 and a hypothetical tenant contribution of $570, landlords should expect to receive a reimbursement of approximately $1330 under ideal circumstances where the market rent matches the SAFMR. However, since the actual market rent is not available, landlords must monitor local rental trends to assess whether they will experience a surplus or a shortfall in their expected income from Section 8 vouchers.

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.