Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,520 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,820 |
| 3 Bedrooms | $2,320 |
| 4 Bedrooms | $2,830 |
| 5 Bedrooms | $3,283 |
| 6 Bedrooms | $3,677 |
| 7 Bedrooms | $3,971 |
| 8 Bedrooms | $4,170 |
U.S. Census Bureau data (2024)
1740 is the Fair Market Rent (FMR) for ZIP code 33774 in Largo, Florida, for fiscal year 2024, indicating the maximum amount Section 8 participants can pay for housing. In contrast, the market rent, known as ZORI, stands at 2014, showing landlords could potentially earn more by renting to non-Section 8 tenants. However, the median home value in the area is 367950, which suggests that homeownership is relatively expensive compared to renting. The renter share of the population is 22.7%, reflecting a significant portion of residents who prefer or need rental accommodation. Median income in the region is 79139, providing insight into the financial capacity of potential tenants. With a Days on Market (DOM) figure of 47, it's evident that properties are typically occupied quickly, reducing vacancy periods. Lastly, only 0.3% of listings have been price-cut, signaling a stable and competitive rental market.
The data points towards a favorable environment for landlords looking to participate in the Section 8 program. Despite the cap on rent at 1740, the quick turnover rate indicated by the 47 DOM figure ensures steady cash flow. Additionally, the low price-cut share of 0.3% suggests that landlords can maintain their asking prices without significant adjustments. Given these factors, landlords should consider the Section 8 program as a viable option for securing reliable tenants in Largo, Florida.
367950 median home values and 79139 median incomes also suggest that while owning a home may be out of reach for some, renting remains affordable and accessible. This balance between affordability and demand makes ZIP 33774 an attractive location for small-portfolio investors seeking to capitalize on a stable rental market.
In conclusion, the numbers speak clearly: Section 8 participation offers a secure investment opportunity with minimal risk of vacancy and a stable tenant base in Largo, Florida. The verdict for Section 8 in ZIP 33774 is positive.
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.