Location: Houston-The Woodlands-Sugar Land, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,320 | $153,556 | 0.86% | C |
| 3BR | $1,780 | $226,948 | 0.78% | D |
| 4BR | $2,210 | $276,237 | 0.8% | C |
| 5BR | $2,564 | $327,010 | 0.78% | D |
U.S. Census Bureau data (2024)
The ZIP code 77014 in Houston, TX, stands out within Harris County due to its unique demographic and economic characteristics. With a population of 36,119 residents, it boasts a rental rate of 49.8%, indicating a robust demand for housing units. The median income in ZIP 77014 is $55,589, which is slightly below the national average but still provides a solid foundation for economic stability. The median home value in the area is $249,234, suggesting that homeownership is attainable for many local residents.
For landlords and small-portfolio investors, the most critical aspect of ZIP 77014 is its voucher economics. The Fair Market Rent (FMR) for the area, as set by the Department of Housing and Urban Development (HUD) for fiscal year 2024, is $1,190. This figure represents the maximum amount that HUD will pay for a rental unit through its Section 8 program. In comparison, the market rent, measured by the Zillow Observed Rent Index (ZORI), is $1,120. This means that landlords who accept Section 8 vouchers can potentially receive higher rents than the market average, making it an attractive option for property owners in the area.
The data signature of ZIP 77014 suggests a stable environment. Despite the relatively low median income compared to other parts of Houston, the high rental rate indicates a steady demand for housing, which is crucial for maintaining occupancy levels. The slight disparity between the FMR and ZORI also points towards a balanced market where Section 8 vouchers can serve as a reliable source of income without significantly undercutting market rates. Overall, ZIP 77014 presents a viable opportunity for landlords and investors looking to enter or expand their presence in the Houston rental market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.