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 | $1,180 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,930 |
| 4 Bedrooms | $2,390 |
| 5 Bedrooms | $2,772 |
| 6 Bedrooms | $3,105 |
| 7 Bedrooms | $3,353 |
| 8 Bedrooms | $3,521 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,930 | $299,059 | 0.65% | D |
| 4BR | $2,390 | $316,452 | 0.76% | D |
| 5BR | $2,772 | $393,722 | 0.7% | D |
U.S. Census Bureau data (2024)
ZIP code 77068 is situated within the Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1350, which is slightly higher than the market rent of $1,327. This indicates that the ZIP code is closely aligned with the overall rental trends in the metro area.
The median home value in ZIP 77068 is $312,185, a figure that places it below the average home values typically found across the broader Houston-The Woodlands-Sugar Land metro. The renter share in this ZIP code is 31.6%, which is notably above the average renter share seen in most ZIP codes within the metro area. This combination of a relatively high renter share and lower-than-average home values suggests that ZIP 77068 could be considered a value pocket within the larger Houston metropolitan region.
A value pocket is characterized by properties that offer good value for money, often appealing to those seeking affordable housing options. In the context of Section 8 investments, ZIP 77068 presents an attractive opportunity due to its above-average renter share and below-average property values. Landlords and small-portfolio investors can leverage this ZIP code's characteristics to secure a steady stream of tenants through the Section 8 program, while also benefiting from potentially lower acquisition costs compared to other areas in the metro.
Investors should note that the FMR is slightly higher than the actual market rent, indicating that the government subsidy rates might cover the average rental costs effectively in this area. This can be advantageous for landlords participating in the Section 8 program, as it ensures that they receive adequate compensation for their properties.
In summary, ZIP 77068 offers a blend of affordability and demand, making it a strategic location for Section 8 real estate investments within the Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area.
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.