ZIP Code · FL

ZIP 34638

Part of Land O Lakes, FL

Pop. 37,644·Pasco County·247th most expensive ZIP in Florida

Median rent (all units)

$2,240/mo

Year-over-Year

-1.4%

Month-over-Month

+0.1%

vs US Median

+$308

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 34638 · $2,240

More expensive than 72% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,679

1 BR

$1,784

2 BR

$2,079

3 BR

$2,655

4 BR+

$3,238

Research median

$2,079/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

March. Asking rents in ZIP 34638 usually run 1% below trend in March and 0.7% above it in July, about $38 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 34638 is 1.9% below its high of $2,284 in February 2025, at $2,240 as of September 2026.

Past year vs. the rest of Florida

Rent in ZIP 34638 changed -1.4% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.

Recent direction

Rent rose in 4 of the last 12 months.

What a typical income covers

30% of the median household income ($123,899) is $3,097 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,960); a 3-bedroom is $3,780.

Cheaper nearby

ZIP 34655, 7 miles away, rents for 14% less ($1,917/mo), about $3,900 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 34638. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$26,880/yr

At $2,240/mo median

Location

CityLand O Lakes

StateFL

CountyPasco County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (-1.4% YoY, +0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 34638 (Land O Lakes, FL) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 44.5% of residents hold a bachelor's degree or higher.

Population

37,644

Median income

$123,899

Median age

38.4

Renters

16.4%

Age distribution

27.2%

16.9%

32.6%

13.3%

Under 1827.2%

18–3416.9%

35–5432.6%

55–6410%

65+13.3%

Gender

49%

51%

Male49%

Female51%

Race & ethnicity

62.5%

24.7%

White62.5%

Black6.7%

Hispanic24.7%

Asian6.2%

Education (25+)

22.1%

29.6%

44.5%

No HS diploma3.8%

HS diploma22.1%

Some college29.6%

Bachelor's+44.5%

Housing tenure

83.6%

16.4%

Owner83.6%

Renter16.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How ZIP 34638 in Land O Lakes, FL has changed in 5 years

Rent

$2,055 → $2,240

up 9.0%

Income

$104,038 → $123,899

up 19.1%

Population

32,345 → 37,644

up 16.4%

Renter share

18.2% → 16.4%

-1.8 pts

Bachelor's+

39.3% → 44.5%

+5.2 pts

Median age

36.9 → 38.4

+1.5 yrs

Five years ago, renters in ZIP 34638 in Land O Lakes, FL paid around $2,055 a month. That figure now sits near $2,240, up 9.0% from the 2022 baseline. On the earnings side, the typical household in ZIP 34638 in Land O Lakes, FL now reports about $123,899, up from $104,038 in 2021. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show ZIP 34638 in Land O Lakes, FL adding about 5,299 residents over the five-year window, up 16.4% on net. The renter share has eased from 18.2% to 16.4%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 39.3% to 44.5% across the same window. For context, the 2022 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 34638 in Land O Lakes, FL reflects that arc in its own way.

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About renting in ZIP 34638

Last updated: October 17, 2026

ZIP code 34638 covers Land O Lakes, FL. The median rent here is $2,240/mo as of October 2026. A 1-bedroom rents for a median of $1,784/mo. A 2-bedroom rents for a median of $2,079/mo.

At 22% of local median household income ($123,899/yr), ZIP 34638 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 1.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 34638?

To keep rent at or below 30% of gross income, you would need to earn at least $90,000/year (about $43/hour full-time) to afford the median rent of $2,240/mo in ZIP 34638. The local median household income is $123,899/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 34638?

Rent in ZIP 34638 has fallen 1.4% over the past year as of September 2026. It sits 1.9% below its high of $2,284 in February 2025.

When is the cheapest time to rent in ZIP 34638?

Asking rents in ZIP 34638 are usually lowest in March, about 1% below their yearly trend, and highest in July, about 0.7% above it. At today's median that is a gap of roughly $38 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 34638 compare to other ZIPs in Florida?

ZIP 34638 is in the middle among Florida ZIP codes for rent, ranking #247 of 656 at $2,240/mo. Over the year to September 2026, rent in ZIP 34638 changed -1.4%, against a typical +1.8% across the 623 Florida ZIP codes Zillow tracks.