Location: Houston-The Woodlands-Sugar Land, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
U.S. Census Bureau data (2024)
The dynamics of ZIP 77011 in Houston, TX, reveal a market in motion, characterized by a strong rental sector and a significant share of renters. The Fair Market Rent (FMR) for ZIP 77011 stands at $910 for fiscal year 2024, while the actual market rent, measured by Zillow's ZORI, is notably higher at $1,310. This discrepancy suggests that the rental market is robust, with demand exceeding the subsidized rental support.
A key indicator of market health is the price-cut share, which is currently at 0.3%. This low figure implies that landlords are generally able to maintain their rental rates without needing to reduce them to attract tenants, further supporting the idea of a balanced or slightly tight rental market.
The median home value in ZIP 77011 is $189,609. While this is an important metric, it is the percentage of renters that provides deeper insight into the housing landscape. With a 47.8% renter share, there is a substantial portion of the population that relies on the rental market rather than owning homes. This high renter share indicates long-term housing pressure, as many residents may find homeownership unaffordable or prefer renting over buying.
The fact that the days on market (DOM) for properties is listed as N/A suggests either a very quick turnover of listings or a lack of comprehensive data on recent sales. However, given the low price-cut share and the disparity between FMR and market rent, it can be inferred that listings are likely moving swiftly, indicative of a market where demand is keeping pace with or slightly outpacing supply.
In summary, ZIP 77011 presents a scenario where the rental market is thriving, with demand driving up rents beyond government-supported levels. The significant renter share points to ongoing housing affordability challenges, creating a persistent pressure on the rental market. For landlords and small-portfolio investors, this suggests a stable environment with opportunities to capitalize on the strong rental demand.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.