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 | $1,820 |
| 1 Bedroom | $1,870 |
| 2 Bedrooms | $2,180 |
| 3 Bedrooms | $2,780 |
| 4 Bedrooms | $3,390 |
| 5 Bedrooms | $3,932 |
| 6 Bedrooms | $4,404 |
| 7 Bedrooms | $4,756 |
| 8 Bedrooms | $4,994 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,870 | $136,228 | 1.37% | A |
| 2BR | $2,180 | $232,010 | 0.94% | C |
| 3BR | $2,780 | $453,447 | 0.61% | D |
| 4BR | $3,390 | $696,012 | 0.49% | F |
U.S. Census Bureau data (2024)
ZIP 33762, located in Clearwater, FL, within the Tampa-St. Petersburg-Clearwater, FL MSA, serves as a strong cash-flow anchor in a Section 8 portfolio strategy. The Federal Market Rent (FMR) for FY 2024 is set at $2210, which is significantly higher than the average market rent of $1708. This spread ensures that landlords participating in the Section 8 program can secure a consistent and reliable rental income that outpaces the local market rates.
The median home value in ZIP 33762 stands at $305,085, indicating a relatively stable housing market. Despite this, the FMR provides a buffer against potential market fluctuations, ensuring steady cash flow. The FMR is designed to reflect the typical rents charged in the area for modest housing, and the fact that it exceeds the market rate means that landlords can avoid the risks associated with variable market conditions.
Additionally, the ZIP code has a price-cut share of 0.4%, suggesting that there is minimal need for landlords to reduce their asking prices to attract tenants. The day DOM (Days on Market) is not applicable, which could indicate that units are typically leased quickly, further supporting the idea of a robust cash flow environment.
A key factor in choosing ZIP 33762 as a cash-flow anchor is the high median income of $87,461. This economic indicator suggests that residents have a strong financial capacity to meet their housing obligations, reducing the risk of default and ensuring a dependable tenant pool. While the renter share is 25.1%, the high median income supports the stability of the overall market, making it less risky for landlords who might be concerned about the concentration of renters.
In summary, ZIP 33762 offers a compelling opportunity for landlords and small-portfolio investors looking to anchor their Section 8 portfolios with a location that guarantees solid cash flow through favorable FMR rates and a financially secure tenant base. The combination of these factors makes it an excellent choice for those prioritizing consistent income over speculative growth.
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.