Location: Houston-The Woodlands-Sugar Land, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $2,060 |
| 5 Bedrooms | $2,390 |
| 6 Bedrooms | $2,677 |
| 7 Bedrooms | $2,891 |
| 8 Bedrooms | $3,036 |
U.S. Census Bureau data (2024)
ZIP code 77067, located in Houston, TX, falls within the larger Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 77067 is set at $1,120 for fiscal year 2024, which is notably lower than the average market rent of $1,516. This indicates that 77067 offers rental properties at a discount compared to the broader market within the metro area.
The median home value in ZIP 77067 is $211,319, which is below the typical home value for the Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area. This suggests that 77067 is a more affordable sub-market for homeownership, but it also aligns with a higher-than-average renter share of 53.2%. In the context of Section 8 real estate analysis, this combination of factors—lower FMR, below-average home values, and a high renter share—often points to an area where Section 8 housing vouchers are prevalent and effective.
The divergence between the FMR and the market rent, with the FMR being significantly lower, implies that 77067 could be considered a value pocket within the metro area. This is particularly true when considering the high proportion of renters who might rely on government assistance for housing. For landlords and small-portfolio investors, this ZIP code presents an opportunity to serve a population that benefits from Section 8 programs while potentially offering better returns relative to the investment cost due to lower property values.
However, it's important to note that the high renter share and reliance on Section 8 vouchers can also introduce challenges such as stricter tenant screening processes and compliance with federal housing regulations. Despite these considerations, the data strongly suggest that 77067 is a sweet spot for Section 8 investments within the Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area.
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.