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 |
ZIP code 33747, located within the Tampa-St. Petersburg-Clearwater, FL MSA, has a Fair Market Rent (FMR) of $1850 for fiscal year 2024. This figure is key to understanding the rental dynamics within this ZIP compared to others in the Tampa metro area.
The FMR in ZIP 33747 is lower than the average market rent for the Tampa-St. Petersburg-Clearwater MSA, which typically ranges higher. This suggests that 33747 could be considered a value pocket within the larger metro area. Landlords and small-portfolio investors should note that while the FMR provides a benchmark for federally subsidized housing, it does not necessarily reflect the entire rental market. However, the lower FMR indicates that there is a segment of the market where rents are more affordable.
Although specific data on market rent and home values for ZIP 33747 is not available, the absence of these figures might imply limited data points or a smaller, less documented area within the metro. The lack of a defined renter share percentage also means that the proportion of renters to homeowners in this ZIP is unclear, but this can still be inferred to some extent based on the FMR.
In the context of Section 8 analysis, ZIP 33747's lower FMR could indicate a potential sweet spot for investors looking to attract tenants eligible for federal housing assistance. Given the lower FMR, if the renter share were to be higher than the metro average, this would strongly suggest that 33747 is a prime location for Section 8 tenants, offering both affordability and access to federal subsidies.
To conclude, ZIP 33747 appears to be a value pocket within the Tampa-St. Petersburg-Clearwater MSA, offering rents that are below the metro average. This makes it an attractive option for investors seeking to capitalize on the demand for affordable housing, particularly from those who qualify for Section 8 assistance. However, without comprehensive data on market rent and home values, further analysis is needed to fully assess the investment potential and dynamics of 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.