Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Homosassa Springs, 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 | $970 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $206,949 | 0.57% | F |
| 3BR | $1,630 | $332,829 | 0.49% | F |
| 4BR | $1,970 | $381,918 | 0.52% | F |
U.S. Census Bureau data (2024)
ZIP 34446, located in Homosassa, FL, within the Tampa-St. Petersburg-Clearwater, FL MSA, serves as a strong cash-flow anchor for a Section 8 portfolio strategy. The primary reason is the significant spread between the Fair Market Rent (FMR) set at $1,200 for FY 2024 and the market rent, which stands at $1,910. This means that landlords can expect to lease out their properties at a premium above the FMR, enhancing their cash flow.
The median home value in ZIP 34446 is $319,377. Given the disparity between the FMR and market rent, landlords can leverage this difference to ensure steady and reliable income from their properties. The FMR is designed to cover the cost of renting a modest apartment, and when the market rent exceeds this amount, it provides a cushion for landlords, allowing them to maintain profitability even if there are occasional vacancies or maintenance costs.
Additionally, the ZIP code has a low price-cut share at 0.3%, indicating that rental properties in this area rarely need to be discounted to attract tenants. This further supports the idea of ZIP 34446 being an anchor for cash flow. With a Days on Market (DOM) average of 80 days, landlords can also anticipate a relatively quick leasing process, minimizing the time properties remain vacant and reducing the risk of lost income.
While the renter share is 6.9% and the median income is $58,802, these factors do not detract from the primary role of ZIP 34446 as a cash-flow anchor. The renter share suggests that a majority of residents are homeowners, but this does not necessarily mean that rental demand is low. In fact, the combination of a high market rent and a median income that supports this level of rental payment indicates a healthy rental market where tenants can afford the higher rents.
In conclusion, ZIP 34446 should be considered a critical component of any Section 8 portfolio strategy due to its ability to provide a stable and robust source of cash flow. Landlords and small-portfolio investors can confidently include properties in this ZIP code to ensure they meet their financial goals while participating in the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.