We show that for every finite-volume hyperbolic 33-manifold MM and every prime pp we have dimH1(M;Fp)<168.602⋅vol(M)dimH1(M;Fp)<168.602⋅vol(M). There are slightly stronger estimates if p=2p=2 or if MM is non-compact. This improves on a result proved by Agol, Leininger and Margalit, which gave the same inequality with a coefficient of 334.08334.08 in place of 168.602168.602. It also improves on the analogous result with a coefficient of about 260260, which could have been obtained by combining the arguments due to Agol, Leininger and Margalit with a result due to Böröczky. Our inequality involving homology rank is deduced from a result about the rank of the fundamental group: if MM is a finite-volume orientable hyperbolic 33-manifold such that π1(M)π1(M) is 22-semifree, then rankπ1(M)<1+λ0⋅volMrankπ1(M)<1+λ0⋅volM, where λ0λ0 is a certain constant less than 167.79167.79.