Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, 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 | $1,500 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,800 |
| 3 Bedrooms | $2,300 |
| 4 Bedrooms | $2,800 |
| 5 Bedrooms | $3,248 |
| 6 Bedrooms | $3,638 |
| 7 Bedrooms | $3,929 |
| 8 Bedrooms | $4,125 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,800 | $169,016 | 1.06% | B |
| 3BR | $2,300 | $526,661 | 0.44% | F |
| 4BR | $2,800 | $743,265 | 0.38% | F |
| 5BR | $3,248 | $1,133,990 | 0.29% | F |
U.S. Census Bureau data (2024)
2250 is the Fair Market Rent (FMR) for ZIP 34688, Tarpon Springs, FL, set for fiscal year 2024. This figure represents the maximum amount landlords can charge for a two-bedroom unit under the Section 8 program. In comparison, the market rent stands at 1429 according to Census ACS data, indicating a significant premium for landlords participating in the Section 8 program. The median home value in the area is 566721, reflecting a relatively affluent neighborhood where rental properties can command higher rates. Renter share in Tarpon Springs is 6.7%, suggesting a smaller pool of potential renters compared to other areas, which could impact demand for rental units. Median income in the region is 112091, providing insight into the financial capability of residents to afford housing, both rental and ownership. The data shows that there is no average days on market (DOM), which means either the data is incomplete or listings move quickly, potentially indicating strong demand for available units. Lastly, the price-cut share is 0.3%, suggesting that very few properties need to be discounted to sell, a positive sign for property values. Given these metrics, the verdict for Section 8 participation in Tarpon Springs is favorable, especially considering the premium over market rents and the strong property values.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.