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Pinellas County/Tarpon Springs/34688

34688

ZIPSAFMR
Pinellas County, FL
Zillow

ZIP Investment Score

63Below average

095130300
BRFMR
Eff. Rent
0 BR$1,500$1,610
1 BR$1,550$1,580
2 BR$1,800$1,870
3 BR$2,300$2,420
4 BR$2,800$2,980
5 BR$3,220Not available
6 BR$3,703Not available
7 BR$4,258Not available
8 BR$4,897Not available

Purchase Price Calculator

Maximum purchase price
$215,965

Cost breakdown

+Likely effective rent$1,870
HUD FMR$1,800
Market rent$1,900
Est. payment standard (104%)Used$1,870
-Principal and interest-$1,092
Loan amount$172,772
Down payment$43,193
Rate6.50%
Term30 years
-Operating costs-$578
Property taxes-$216
Insurance-$175
Utilities$0
HOA$0
Management-$187
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$29,996(69.4% ROI)
Projected value
$232,570
Return breakdown
Property appreciation+$16,606
Loan principal paid down+$6,190
Rental cash flow+$7,200
5-year hold
+$51,418(119.0% ROI)
Projected value
$244,344
Return breakdown
Property appreciation+$28,380
Loan principal paid down+$11,038
Rental cash flow+$12,000
10-year hold
+$110,791(256.5% ROI)
Projected value
$276,453
Return breakdown
Property appreciation+$60,488
Loan principal paid down+$26,303
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.90
1 BR
0.97
2 BR
0.95
3 BR
0.92
4 BR
0.91
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 34688 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 34688 (Tarpon Springs, FL) is $1,800 a month. That is down 5.8% from $1,910 in FY 2026. Tarpon Springs 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, 34688 is tied for the 60th-highest two-bedroom rent (county range $1,580–$2,880). The median county two-bedroom FMR in Florida is $1,474, so ZIP 34688 is 22% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 34688
BedroomsFY 2027Change90–110% range
Studio$1,500−2.6%$1,350–$1,650
1BR$1,550−5.5%$1,395–$1,705
2BR$1,800−5.8%$1,620–$1,980
3BR$2,300−5.7%$2,070–$2,530
4BR$2,800−5.7%$2,520–$3,080

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 34688
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,500$1,550$1,800$2,300$2,800
FY 2026$1,540$1,640$1,910$2,440$2,970
FY 2025$1,680$1,810$2,120$2,710$3,300
FY 2024$1,750$1,870$2,250$2,880$3,520
FY 2023$1,940$2,070$2,490$3,190$3,910

Two-bedroom rent in nearby Pinellas County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 34688
34660$1,930+7.2%
34677$1,820+1.1%
34681$2,050+13.9%
34682$1,930+7.2%
34683$2,050+13.9%
34684$2,070+15.0%
34685$2,360+31.1%
34688Current$1,800—
34689$1,580−12.2%
34695$2,130+18.3%
34697$1,930+7.2%
34698$2,060+14.4%

Questions about ZIP 34688 rents

How much will Section 8 pay for a two-bedroom in ZIP 34688?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,800, that basic range is $1,620 to $1,980 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 34688 in?

ZIP 34688 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 34688 for FY 2027?

The two-bedroom FMR fell 5.8%, from $1,910 in FY 2026 to $1,800 in FY 2027. Since FY 2023 it has fallen 27.7%.

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 rentTarpon Springs, FL fair market rentFL statewide rentsWhat is SAFMR?Data sources