Location: Lakeland-Winter Haven, FL | Metro: Lakeland-Winter Haven, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,870 |
| 1 Bedroom | $1,980 |
| 2 Bedrooms | $2,350 |
| 3 Bedrooms | $3,180 |
| 4 Bedrooms | $3,830 |
| 5 Bedrooms | $4,443 |
| 6 Bedrooms | $4,976 |
| 7 Bedrooms | $5,374 |
| 8 Bedrooms | $5,643 |
U.S. Census Bureau data (2024)
The ZIP code 33858 stands out due to its unique demographic and economic characteristics. With only 653 residents, it represents a small community where rental housing dominates, accounting for 78.1% of all occupied units. The median income for residents in this area is notably low at $27,061, which underscores the financial situation of many inhabitants and their reliance on affordable housing options.
The absence of a reported median home value suggests that this ZIP code may lack significant homeownership activity, further emphasizing its status as a primarily rental market. In terms of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 33858 in fiscal year 2024 is set at $1250. This figure is crucial for landlords and small-portfolio investors as it defines the maximum amount that can be charged to tenants participating in the Section 8 program. However, the lack of market rent data makes direct comparisons challenging, though it's reasonable to infer that the FMR is closely aligned with the local rental market conditions.
Given the high percentage of renters and the low median income, the demand for affordable rental housing supported by Section 8 vouchers is likely strong. For investors, this means a stable tenant base with government-backed rental payments, ensuring consistent cash flow. However, the limited size of the population and the absence of detailed market data indicate a transitional environment, where changes in the local economy or housing policies could significantly impact the rental market dynamics.
In conclusion, ZIP 33858 presents an opportunity for investors focused on affordable rental properties, with a strong dependency on Section 8 vouchers. The data signature leans towards being transitional, suggesting that while there is a stable demand for subsidized housing, external factors could influence future stability. Landlords should consider these aspects when evaluating investment opportunities in this ZIP code.
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.