Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, FL MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,860 |
| 1 Bedroom | $1,920 |
| 2 Bedrooms | $2,230 |
| 3 Bedrooms | $2,850 |
| 4 Bedrooms | $3,460 |
| 5 Bedrooms | $4,014 |
| 6 Bedrooms | $4,496 |
| 7 Bedrooms | $4,856 |
| 8 Bedrooms | $5,099 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,920 | $95,988 | 2% | A+ |
| 2BR | $2,230 | $197,888 | 1.13% | B |
| 3BR | $2,850 | $415,236 | 0.69% | D |
| 4BR | $3,460 | $743,774 | 0.47% | F |
| 5BR | $4,014 | $1,150,884 | 0.35% | F |
U.S. Census Bureau data (2024)
Clearwater, FL, represented by ZIP code 33759, stands out in Pinellas County with a population of 17,557 residents, where nearly half of them, 49.1%, are renters. The median household income here is $67,492, reflecting a moderate economic status among the local populace. Notably, the median home value in this area is $343,255, indicating a mix of affordable and mid-range housing options.
In terms of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 33759 for fiscal year 2024 is set at $2,130, which is higher than the market rent index (ZORI) of $1,972. This suggests that landlords participating in the Section 8 program can expect slightly above-average rental income compared to the local market rate. The difference between the FMR and ZORI provides a cushion for landlords, ensuring they receive fair compensation for their properties while still remaining attractive to tenants seeking affordable housing solutions.
The data signature for Clearwater, FL, indicates a stable environment. With a significant portion of the population renting, the demand for affordable housing remains consistent. The median income level suggests that there is a broad range of economic diversity, supporting both rental and homeownership markets. Additionally, the median home value shows a balance between affordability and desirability, attracting a steady flow of potential homeowners and renters alike. Overall, the combination of these factors creates a reliable setting for landlords and small-portfolio investors looking to engage in the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
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.