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 ZIP code 33694 in Tampa-St. Petersburg-Clearwater, FL, presents a unique set of characteristics that make it stand out for real estate analysis. The data for this ZIP code, however, is incomplete, showing N/A for key metrics such as the number of residents, percentage of renters, median income, and median home value. This lack of detail suggests that the area might be underreported or less studied, but it does not diminish its importance for Section 8 voucher economics.
One critical piece of information available is the Fair Market Rent (FMR) for ZIP 33694, which stands at $1900 for fiscal year 2024. While the actual market rent remains unspecified due to the N/A placeholder, the FMR figure serves as a benchmark for understanding the rental dynamics within the area. Landlords and small-portfolio investors can leverage this data to ensure their rental rates align with federal guidelines, thus maximizing the likelihood of attracting tenants who qualify for housing assistance through the Section 8 program.
Despite the missing data points, the presence of a defined FMR indicates a level of stability in the rental market. The consistency of having an FMR figure while lacking other specifics could suggest that the area is transitioning, with potential growth or changes in the demographic landscape that have yet to be fully captured in the data. However, for the purposes of voucher economics, the $1900 FMR provides a solid foundation for setting competitive and federally compliant rent prices.
In conclusion, ZIP 33694 offers a blend of known and unknown factors, making it a transitional area with opportunities for those who can navigate the uncertainties. Landlords should focus on the $1900 FMR to guide their pricing strategies, ensuring they remain attractive to Section 8 participants without sacrificing profitability. This ZIP code's data signature leans towards being transitional, given the incomplete data, but the established FMR offers a stable point of reference for investment decisions.
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.