Location: Lakeland-Winter Haven, FL | Metro: Lakeland-Winter Haven, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,260 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,210 |
| 4 Bedrooms | $2,690 |
| 5 Bedrooms | $3,120 |
| 6 Bedrooms | $3,494 |
| 7 Bedrooms | $3,774 |
| 8 Bedrooms | $3,963 |
The ZIP code 33802, located in the Lakeland-Winter Haven, FL MSA metro, can serve as a cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for a $1250 unit in FY 2024 is set at $850, indicating a significant spread between the FMR and the actual market rate. This spread allows landlords to secure a stable source of income through government subsidies, even if the market rents are lower than expected.
The median home value in the area is not explicitly provided, but the average home value in Lakeland, FL is $312,339, which suggests a relatively affordable market. This affordability can be advantageous for landlords who are looking to purchase properties for their Section 8 portfolios at a reasonable cost, thereby maximizing their potential cash flow.
Homes in the Lakeland area go to pending in around 34 days, which indicates a moderate seller's market. While this does not directly impact the cash flow of a Section 8 property, it can influence the overall real estate market dynamics, making it easier to find tenants who qualify for the Section 8 program.
Although specific figures for the renter share and median income are not provided, the existing data points towards ZIP 33802 being a suitable location for a cash-flow anchor in a Section 8 portfolio. Landlords can expect steady rental income due to the subsidy, making it a reliable choice for those aiming to balance risk and reward within their investment strategies.
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.