Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,310 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,570 |
| 3 Bedrooms | $2,010 |
| 4 Bedrooms | $2,440 |
| 5 Bedrooms | $2,830 |
| 6 Bedrooms | $3,170 |
| 7 Bedrooms | $3,424 |
| 8 Bedrooms | $3,595 |
ZIP 34605 in the Tampa-St. Petersburg-Clearwater, FL MSA metro, serves as an ideal cash-flow anchor within a Section 8 portfolio strategy. The median Fair Market Rent (FMR) for FY 2024 is $1600, which aligns closely with the average assessed property value of $307,858 and the median home value of $457,700. This alignment suggests that rental income can effectively cover mortgage payments and maintenance costs, ensuring steady cash flow.
The median household income in ZIP 34605 is $107,073, indicating a relatively affluent neighborhood. However, the primary appeal for landlords and small-portfolio investors lies in the high proportion of owner-occupied homes (100%), which stabilizes the local real estate market and reduces the risk of vacancy. Additionally, the lack of flips since 2020 and minimal new businesses over the past three years suggest a mature, low-risk investment environment.
This ZIP code offers a reliable source of rental income due to its stable market conditions and proximity to the larger metropolitan area. The consistent income stream and low risk make it a solid choice for anchoring a Section 8 portfolio, providing financial stability and predictability.
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.