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 code 34611, located in Spring Hill, Florida, presents a unique profile for landlords and small-portfolio investors. With a population of 44,611, the area has a median household income of $49,611 and a median home value of $234,263. The exact percentage of residents renting is not available, but these figures provide a clear snapshot of the local economic conditions.
The voucher economics in ZIP 34611 are particularly noteworthy. For fiscal year 2024, the Fair Market Rent (FMR) for a two-bedroom apartment is set at $1,600. This figure is crucial for understanding the potential rental income for properties eligible under the Section 8 program. However, the current market rent for similar units is not specified, making it difficult to compare the FMR to local rental rates directly.
Based on the available data, ZIP 34611 appears to be a stable area. The median home values and incomes suggest a consistent economic environment, which can be beneficial for long-term investment strategies. Landlords should monitor local rental markets closely to ensure they are aligning their rental pricing with both the FMR and the actual market conditions to maximize occupancy and profitability.
To summarize, ZIP 34611 offers a stable real estate market with a defined FMR that can guide rental pricing decisions for Section 8 properties. Investors should consider the broader economic context of Spring Hill while also staying informed about any changes in the local rental market dynamics.
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.