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Pinellas County/Palm Harbor/34685

34685

ZIPSAFMR
Pinellas County, FL
Zillow

ZIP Investment Score

74Below average

095130300
BRFMR
Eff. Rent
0 BR$1,970$1,610
1 BR$2,030$1,740
2 BR$2,360$2,220
3 BR$3,010$2,470
4 BR$3,660$3,180
5 BR$4,209Not available
6 BR$4,840Not available
7 BR$5,566Not available
8 BR$6,401Not available

Purchase Price Calculator

Maximum purchase price
$267,975

Cost breakdown

+Likely effective rent$2,220
HUD FMR$2,360
Market rentUsed$2,220
Est. payment standard (96%)$2,270
-Principal and interest-$1,355
Loan amount$214,380
Down payment$53,595
Rate6.50%
Term30 years
-Operating costs-$665
Property taxes-$268
Insurance-$175
Utilities$0
HOA$0
Management-$222
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$35,485(66.2% ROI)
Projected value
$288,579
Return breakdown
Property appreciation+$20,605
Loan principal paid down+$7,681
Rental cash flow+$7,200
5-year hold
+$60,911(113.7% ROI)
Projected value
$303,189
Return breakdown
Property appreciation+$35,214
Loan principal paid down+$13,697
Rental cash flow+$12,000
10-year hold
+$131,692(245.7% ROI)
Projected value
$343,030
Return breakdown
Property appreciation+$75,056
Loan principal paid down+$32,637
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.22
1 BR
1.17
2 BR
1.06
3 BR
1.22
4 BR
1.15
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 34685 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 34685 (Palm Harbor, FL) is $2,360 a month. That is down 1.3% from $2,390 in FY 2026. Palm Harbor 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 70 ZIP codes in Pinellas County, 34685 has the 9th-highest two-bedroom rent (county range $1,580–$2,880). The median county two-bedroom FMR in Florida is $1,474, so ZIP 34685 is 60% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 34685
BedroomsFY 2027Change90–110% range
Studio$1,970+2.1%$1,773–$2,167
1BR$2,030−1.0%$1,827–$2,233
2BR$2,360−1.3%$2,124–$2,596
3BR$3,010−1.6%$2,709–$3,311
4BR$3,660−1.6%$3,294–$4,026

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 34685
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,970$2,030$2,360$3,010$3,660
FY 2026$1,930$2,050$2,390$3,060$3,720
FY 2025$1,850$1,990$2,340$3,000$3,650
FY 2024$1,710$1,840$2,180$2,790$3,400
FY 2023$1,550$1,660$1,990$2,550$3,120

Two-bedroom rent in nearby Pinellas County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 34685
34660$1,930−18.2%
34677$1,820−22.9%
34681$2,050−13.1%
34682$1,930−18.2%
34683$2,050−13.1%
34684$2,070−12.3%
34685Current$2,360—
34688$1,800−23.7%
34689$1,580−33.1%
34695$2,130−9.7%
34697$1,930−18.2%
34698$2,060−12.7%

Questions about ZIP 34685 rents

How much will Section 8 pay for a two-bedroom in ZIP 34685?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,360, that basic range is $2,124 to $2,596 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 34685 in?

ZIP 34685 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 34685 for FY 2027?

The two-bedroom FMR fell 1.3%, from $2,390 in FY 2026 to $2,360 in FY 2027. Since FY 2023 it has risen 18.6%.

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 rentPalm Harbor, FL fair market rentFL statewide rentsWhat is SAFMR?Data sources