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 | $1,710 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $2,050 |
| 3 Bedrooms | $2,620 |
| 4 Bedrooms | $3,180 |
| 5 Bedrooms | $3,689 |
| 6 Bedrooms | $4,132 |
| 7 Bedrooms | $4,463 |
| 8 Bedrooms | $4,686 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,760 | $111,635 | 1.58% | A+ |
| 2BR | $2,050 | $231,348 | 0.89% | C |
| 3BR | $2,620 | $437,200 | 0.6% | F |
| 4BR | $3,180 | $555,612 | 0.57% | F |
| 5BR | $3,689 | $810,572 | 0.46% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 33764 in Clearwater, FL, reveals a market that leans towards steady cash flow rather than high-yield/low-stability. The Federal Market Rent (FMR) for the area stands at $2020, which is significantly lower than the market rent of $2,069. This suggests that while properties in this area may not offer the highest rental yields compared to other markets, they do provide a reliable source of income.
The median home value in ZIP 33764 is $363,884, indicating a moderate investment cost. With 34.0% of residents being renters, there is a substantial demand for rental properties. Additionally, the average days on market (DOM) is 37 days, which is relatively short, suggesting that rental units can be filled promptly without extended vacancy periods.
The median household income of $67,256 supports the idea of a stable rental market. Tenants with this income level are likely to have the financial means to maintain consistent rental payments, contributing to the overall stability of the cash flow.
To summarize, the combination of a slightly higher market rent compared to FMR, a moderate home value, a sizeable percentage of renters, quick turnover rates, and a decent median income points towards a market that prioritizes steady cash flow over high-risk, high-reward investments. Landlords and small-portfolio investors seeking reliability should consider this ZIP code a solid choice for their real estate investments.
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.