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 Fair Market Rent (FMR) for ZIP code 33757 in Florida for fiscal year 2024 is set at $1850. This figure represents the payment standard that landlords can expect to receive from the Housing Choice Voucher program, commonly known as Section 8, for renting out a unit in this area. It's important to note that this is not the amount tenants will pay in rent; it's the maximum subsidy the government will provide.
In ZIP 33757, the FMR of $1850 is the benchmark against which rental rates are compared to determine eligibility for the voucher program. Local average rents are currently listed as N/A, which makes it difficult to directly compare to the FMR. However, the percentage of renters in the area who could be eligible for Section 8 assistance is N/A%, indicating a significant demand for affordable housing options.
The acquisition cost for properties in this ZIP code, which refers to the typical price a landlord might pay to acquire a rental property, is also listed as N/A. This suggests that the market for buying rental properties in 33757 may not be well-documented or is highly variable. Landlords should conduct thorough research on recent property sales in the area to get a clearer picture of acquisition costs.
Before committing to a Section 8 rental in ZIP 33757, one crucial verification step is to ensure that the property meets all the required quality standards set by HUD. These standards, often referred to as 'Housing Quality Standards' (HQS), must be met for the property to be approved for the Section 8 program. Failure to comply with these standards can result in non-payment or termination of the contract.
To summarize, the FMR of $1850 in ZIP 33757 sets the maximum subsidy level for the Section 8 program. With a N/A% share of potential renters, there is a notable demand for affordable housing. The lack of specific data on local average rents and acquisition costs necessitates additional due diligence from landlords. Ensuring your property meets HUD's HQS is a critical final check before participating in the program.
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.