Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,920 |
| 1 Bedroom | $2,040 |
| 2 Bedrooms | $2,380 |
| 3 Bedrooms | $3,050 |
| 4 Bedrooms | $3,700 |
| 5 Bedrooms | $4,292 |
| 6 Bedrooms | $4,807 |
| 7 Bedrooms | $5,192 |
| 8 Bedrooms | $5,452 |
U.S. Census Bureau data (2024)
The dynamics of ZIP 33767, Clearwater, FL, reveal a market in motion. The Fair Market Rent (FMR) for the area is set at $2760 for fiscal year 2024, while the Zillow Observed Rent Index (ZORI) indicates a higher market rent of $3,572. This suggests that the rental market is robust and potentially outpacing the FMR, which is often used as a benchmark for affordability.
The price-cut share stands at just 0.2%, indicating that very few properties are being reduced in price, a sign that sellers are confident in their asking prices and that demand is steady. Additionally, the Days on Market (DOM) is 85 days, which is relatively low, pointing towards a healthy rate of property turnover and strong interest from buyers.
The median home value in Clearwater is $705,114, reflecting the overall stability and value of the housing stock. With a renter share of 15.2%, it's evident that a significant portion of the population prefers renting over owning. This high percentage of renters can be indicative of long-term housing pressure, as it suggests that many residents find it challenging to enter the homeownership market due to cost or other barriers. Consequently, landlords and small-portfolio investors can anticipate sustained demand for rental properties.
In summary, Clearwater's market data paints a picture of a balanced yet dynamic environment. The slight premium in market rent over FMR, coupled with low DOM and a small price-cut share, signals a market where demand meets supply effectively. The substantial renter share points to ongoing pressure in the housing market, favoring those who invest in rental properties.
Data Sources: FMR data from HUD (2027). 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.