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 33688 within the Tampa-St. Petersburg-Clearwater, FL MSA metro area reveals several critical points for landlords and small-portfolio investors.
First, let's address whether the rent math works. The Fair Market Rent (FMR) for ZIP 33688 in fiscal year 2024 is set at $1900. However, the market rent data is currently unavailable (N/A), which makes it difficult to assess if the rent math aligns with actual market conditions. Without comparative market data, it's challenging to determine if $1900 is a sustainable rent rate that covers costs and provides a profit margin.
Second, regarding the affordability of property acquisition, the median home value in ZIP 33688 is also marked as N/A. This lack of data means we cannot evaluate if the homes are priced reasonably for investment purposes. Additionally, the average days on market (DOM) and the percentage of homes requiring price cuts are both listed as N/A, indicating a gap in understanding the dynamics of the local real estate market. These metrics are crucial for assessing the ease of acquiring properties at favorable terms.
Third, concerning tenant demand, the population data and the percentage of renters in ZIP 33688 are not available (N/A). Tenant demand is essential for ensuring occupancy rates and steady rental income. Without these figures, it's impossible to gauge how many potential tenants might be interested in renting properties in this area.
Verdict: Investing in ZIP 33688 presents significant challenges due to the lack of comprehensive data. While the Fair Market Rent is established at $1900, without market rent figures, it's unclear if this is a competitive rate. The absence of median home values, DOM averages, and price-cut percentages hinders the ability to assess the affordability and liquidity of property acquisitions. Similarly, without knowing the population size and the proportion of renters, predicting tenant demand is speculative. Therefore, further research is necessary to fill these data gaps before making informed investment decisions in this ZIP code.
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.