Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,610 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,470 |
| 4 Bedrooms | $3,000 |
| 5 Bedrooms | $3,480 |
| 6 Bedrooms | $3,898 |
| 7 Bedrooms | $4,210 |
| 8 Bedrooms | $4,421 |
The analysis of ZIP code 33738 within the Tampa-St. Petersburg-Clearwater, FL MSA reveals several critical points for potential landlords and small-portfolio investors.
Firstly, regarding the rent math, the Family Monthly Rent (FMR) set at $1850 for fiscal year 2024 does not provide a complete picture without knowing the actual market rent for the area. However, based on the FMR alone, landlords should ensure that their property's rental income meets or exceeds this amount to be competitive and viable under government housing assistance programs.
Secondly, the affordability of acquiring properties in ZIP 33738 cannot be fully assessed due to the lack of specific data on median home values, days on the market (DOM), and the percentage of homes requiring price cuts. These metrics are crucial for understanding how liquid the real estate market is and whether it offers opportunities for investment at favorable terms.
Thirdly, tenant demand appears to be a variable factor. Without specific population numbers and the percentage of renters in the area, it's challenging to gauge the level of interest in rental properties. High tenant demand would typically correlate with a larger population and a higher percentage of residents who rent rather than own their homes.
Verdict: While the Family Monthly Rent (FMR) of $1850 provides a benchmark for rental pricing, the incomplete data on market rents, median home values, days on market, price cut shares, and tenant demographics make a definitive assessment difficult. Landlords and investors must seek out detailed local market reports to understand the full financial landscape of ZIP 33738 before making any investment decisions. The success of any real estate venture here hinges on aligning with the specific economic realities of the area, which currently require further investigation.
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.