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 |
To classify ZIP code 33883 in Florida, we must consider the available data on yield and stability. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1250. This figure represents the rental price benchmark for Section 8 housing in the area. However, specific market rental prices and median home values for ZIP 33883 are not provided, which makes direct comparisons challenging.
The percentage of renters, days on the market (DOM), and median household income are also unspecified. Without these metrics, it's difficult to assess the stability of the market. For instance, a higher percentage of renters might indicate greater demand for rentals, but it could also suggest less financial stability among residents if incomes are low. Similarly, a shorter DOM could imply strong buyer interest, but without income data, it's unclear how sustainable this trend is.
Given the limited data, we cannot definitively label ZIP 33883 as either a high-yield/low-stability market or a steady-cashflow zone. A fair market rent of $1250 suggests potential for decent rental yields, assuming the actual market rents align closely with this figure. Yet, the lack of detailed market and demographic data means that any assessment of stability remains speculative.
To make a more informed classification, additional data would be required. Specifically, knowing the local market rents, median home values, percentage of renters, average DOM, and median household income would provide a clearer picture of the market dynamics. Until such data is available, ZIP 33883 can only be described as a market with an identified rental benchmark, but with unknown stability factors.
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.