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Pasco County/Zephyrhills/33540

33540

ZIPSAFMR
Pasco County, FL
Zillow

ZIP Investment Score

74Below average

095130300
BRFMR
Eff. Rent
0 BR$1,020$1,110
1 BR$1,060$1,170
2 BR$1,230$1,350
3 BR$1,570$1,730
4 BR$1,910$2,100
5 BR$2,197Not available
6 BR$2,526Not available
7 BR$2,905Not available
8 BR$3,341Not available

Purchase Price Calculator

Maximum purchase price
$138,693

Cost breakdown

+Likely effective rent$1,350
HUD FMR$1,230
Market rent$1,530
Est. payment standard (110%)Used$1,350
-Principal and interest-$701
Loan amount$110,954
Down payment$27,739
Rate6.50%
Term30 years
-Operating costs-$449
Property taxes-$139
Insurance-$175
Utilities$0
HOA$0
Management-$135
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,839(78.7% ROI)
Projected value
$149,357
Return breakdown
Property appreciation+$10,664
Loan principal paid down+$3,975
Rental cash flow+$7,200
5-year hold
+$37,314(134.5% ROI)
Projected value
$156,918
Return breakdown
Property appreciation+$18,225
Loan principal paid down+$7,089
Rental cash flow+$12,000
10-year hold
+$79,737(287.5% ROI)
Projected value
$177,539
Return breakdown
Property appreciation+$38,846
Loan principal paid down+$16,892
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.88
1 BR
0.84
2 BR
0.80
3 BR
0.82
4 BR
0.83
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 33540 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33540 (Zephyrhills, FL) is $1,230 a month. That is down 6.8% from $1,320 in FY 2026. Zephyrhills is in the Tampa-St. Petersburg-Clearwater, FL MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 45 ZIP codes in Pasco County, 33540 has the 44th-highest two-bedroom rent (county range $1,020–$2,780). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33540 is 17% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 33540
BedroomsFY 2027Change90–110% range
Studio$1,020−3.8%$918–$1,122
1BR$1,060−6.2%$954–$1,166
2BR$1,230−6.8%$1,107–$1,353
3BR$1,570−7.1%$1,413–$1,727
4BR$1,910−6.8%$1,719–$2,101

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 33540
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,020$1,060$1,230$1,570$1,910
FY 2026$1,060$1,130$1,320$1,690$2,050
FY 2025$1,080$1,160$1,360$1,740$2,120
FY 2024$990$1,070$1,270$1,620$1,980
FY 2023$900$970$1,160$1,480$1,820

Two-bedroom rent in nearby Pasco County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 33540
33525$1,310+6.5%
33526$1,770+43.9%
33537$1,770+43.9%
33539$1,770+43.9%
33540Current$1,230—
33541$1,560+26.8%
33542$1,390+13.0%
33543$2,650+115.4%
33544$2,440+98.4%
33545$2,740+122.8%
33548$2,410+95.9%
33549$2,020+64.2%

Questions about ZIP 33540 rents

How much will Section 8 pay for a two-bedroom in ZIP 33540?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,230, that basic range is $1,107 to $1,353 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 33540 in?

ZIP 33540 is in the Tampa-St. Petersburg-Clearwater, FL MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 33540 for FY 2027?

The two-bedroom FMR fell 6.8%, from $1,320 in FY 2026 to $1,230 in FY 2027. Since FY 2023 it has risen 6.0%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentZephyrhills, FL fair market rentFL statewide rentsWhat is SAFMR?Data sources