Location: Lakeland-Winter Haven, FL | Metro: Lakeland-Winter Haven, 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 | $1,110 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,110 | $87,130 | 1.27% | A |
U.S. Census Bureau data (2024)
The ZIP code 33854 is predominantly a renter-heavy area, with 78.5% of its population consisting of renters. This high percentage indicates a strong demand for rental properties, particularly among those who might rely on housing vouchers such as Section 8. Given the median household income of $29,250, the typical market rent of $727 represents a significant portion of the average resident's income.
To put this into perspective, the average rent consumes approximately 25% of the median household income in this ZIP code. This is calculated by dividing the market rent ($727) by the median household income ($29,250), which highlights the financial strain that many residents face when paying rent. Additionally, the Fair Market Rent (FMR) set at $1,050 for fiscal year 2024 shows a substantial gap between the actual market rent and the FMR, suggesting that rents in 33854 are below the federally determined fair market level. This discrepancy can be advantageous for landlords, as it means they can potentially attract tenants with Section 8 vouchers who have a higher maximum allowable rent based on the FMR.
A landlord in ZIP 33854 should expect a tenant pool that largely consists of low-income individuals and families who may require housing assistance. The reliance on housing vouchers such as Section 8 is likely to be high due to the economic conditions and the proportion of renters in the area. Landlords should prepare for tenants who will have their rent subsidized up to $727 per month, aligning with the market rent, but with the potential for higher rents if the tenant's voucher allows for it based on the FMR.
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.