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 | $121,308 | 1.58% | A+ |
| 2BR | $2,230 | $217,614 | 1.02% | B |
| 3BR | $2,850 | $367,710 | 0.78% | D |
| 4BR | $3,460 | $548,159 | 0.63% | D |
| 5BR | $4,014 | $1,000,906 | 0.4% | F |
U.S. Census Bureau data (2024)
Seminole, FL, located within the Tampa-St. Petersburg-Clearwater MSA, represented by ZIP code 33777, serves as a strategic fit for a Section 8 portfolio due to its characteristics as an appreciation play. The ZIP's rental market shows a 0.4% price-cut share, indicating that landlords can maintain their rents without significant concessions. Additionally, the median days on market (DOM) for rental listings is 58 days, which suggests a steady demand for rental properties and a relatively quick turnover rate.
To understand Seminole's role better, consider its financial metrics. The Fair Market Rent (FMR) for ZIP 33777 in fiscal year 2024 is set at $2200, while the market rent stands at $2,027. This indicates that the FMR provides a slight buffer above market rates, ensuring a stable cash flow for landlords participating in the Section 8 program. However, the primary appeal lies in the potential for property value appreciation. With a median home value of $325,111, there is room for growth in the local real estate market.
The ZIP's renter share of 14.6% and median income of $86,375 suggest a balanced mix of renters and homeowners, with sufficient disposable income to support rental demand. While these factors contribute to a diverse investment landscape, they do not overshadow the appreciation potential. Landlords should focus on the long-term gains from property value increases rather than relying solely on rental income.
In summary, ZIP 33777 is best categorized as an appreciation play within a Section 8 portfolio strategy. The combination of low price-cut share, short DOM, and reasonable median home values supports this classification. Landlords can expect steady cash flows with minimal adjustments, while also benefiting from potential increases in property value over time.
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.