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 | $1,300 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,420 |
| 5 Bedrooms | $2,807 |
| 6 Bedrooms | $3,144 |
| 7 Bedrooms | $3,396 |
| 8 Bedrooms | $3,566 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,560 | $208,680 | 0.75% | D |
| 3BR | $1,990 | $251,300 | 0.79% | D |
| 4BR | $2,420 | $280,654 | 0.86% | C |
U.S. Census Bureau data (2024)
The ZIP code 34690, located in Holiday, FL, presents a dynamic rental market that is currently in flux. The Fair Market Rent (FMR) for the area, set at $1680 for fiscal year 2024, aligns closely with the market rent, known as the Zillow Rent Index (ZORI), which stands at $1,755. This suggests a balanced market where rents are reflective of fair market values, indicating neither significant upward nor downward pressure.
The low price-cut share of 0.3% and a relatively short days on market (DOM) of 35 days point towards a market where demand meets supply effectively. Landlords and property owners in this area rarely need to lower their asking prices to attract tenants, and properties typically do not remain vacant for extended periods. This scenario implies a steady demand for rental properties, supporting the notion that the market is stable and not oversupplied.
The median home value of $219,527 is indicative of an affordable residential area, which can attract both renters and buyers. However, with a renter share of 33.9%, it becomes clear that a substantial portion of the population opts for renting over purchasing. This high percentage of renters can exert long-term housing pressure, as it suggests a continuous need for rental units. It also indicates that many residents may be unable or unwilling to buy homes, possibly due to economic factors or lifestyle choices.
In summary, the ZIP 34690 market reflects a balance between supply and demand, with rents closely matching FMR and a minimal need for price reductions. The significant renter share highlights a persistent demand for rental properties, which landlords and small-portfolio investors should consider when evaluating their investment strategies. This mix of dynamics creates a market ripe with opportunities for those who understand the local rental landscape and can adapt to its ongoing changes.
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.