Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,610 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,470 |
| 4 Bedrooms | $3,000 |
| 5 Bedrooms | $3,480 |
| 6 Bedrooms | $3,898 |
| 7 Bedrooms | $4,210 |
| 8 Bedrooms | $4,421 |
To classify ZIP 33779 in Unknown, FL, we must analyze the given data points: the Fair Market Rent (FMR) and other unspecified metrics such as market rent and home values. For FY 2024, the FMR is set at $1850. However, without specific market rent and home value figures, our analysis will be limited to the FMR and other general economic indicators.
The FMR of $1850 suggests that this area is positioned for rental yields that align with government standards, indicating a baseline for what tenants can afford through housing assistance programs. This figure alone does not provide enough information to determine if the market is high-yield compared to typical market rents in the area. To make a precise classification, we would need to compare this FMR against the average market rent for similar properties.
Stability in the market can be gauged by the percentage of renters, days on market (DOM), and median income levels. Unfortunately, these specific metrics are not provided for ZIP 33779. The absence of these data points makes it challenging to assess the stability of the rental market. A higher percentage of renters and lower DOM typically indicate a stable market, while higher median incomes suggest a more financially secure tenant base.
Given the available information, ZIP 33779 appears to be a middle-ground market where opportunities exist but require deeper local knowledge to fully capitalize on. The FMR of $1850 can support steady cash flow for landlords participating in the Section 8 program, but without comparative market data, it's unclear whether this represents a high-yield opportunity relative to non-subsidized rentals.
To conclude, ZIP 33779 is best described as a steady-cashflow zone, particularly for those landlords willing to engage with the Section 8 program. The lack of additional data points prevents a definitive assessment of the market's stability and potential yield beyond the government-set FMR. Landlords should seek out more detailed local market reports to make informed decisions about investment strategies in this area.
Data Sources: FMR data from HUD (2027).
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.