Location: Houston-The Woodlands-Sugar Land, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,400 |
| 1 Bedroom | $1,430 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,290 |
| 4 Bedrooms | $2,840 |
| 5 Bedrooms | $3,294 |
| 6 Bedrooms | $3,689 |
| 7 Bedrooms | $3,984 |
| 8 Bedrooms | $4,183 |
U.S. Census Bureau data (2024)
ZIP code 77084 anchors the far-west energy corridor of Houston, specifically encompassing the bustling Cypress Creek Lakes and Bridgeland communities. This area is defined by master-planned development, extensive greenbelts, and a strong appeal to families working in the nearby Energy Corridor. A key economic driver for local renters is the presence of major employers like BP America, whose large campus sits just east of this suburb, providing a steady stream of income-qualified professionals.
Financially, the HUD Fair Market Rent (FMR) for a 2-bedroom unit in FY2024 is $1,560, while market rents (Zillow ZORI) hover near $1,544, creating a negligible gap of $16. This parity suggests the local voucher payment standard is roughly aligned with private market rates. The median home value is $267,297, with 2-bedroom properties selling at a median of $175,813. However, turnover risks are present, with the median days on market sitting at 70 days, indicating a slightly slower pace compared to the hyper-active core of Houston.
Demand drivers in this rental market are robust, supported by a 40.0% renter share and a solid median household income of $80,575. This income level is comfortably above the typical threshold for voucher qualification, suggesting a tenant pool that can likely afford rent supplements or market-rate units without extreme distress. Families are drawn here by the highly-rated Cypress-Fairbanks Independent School District and the abundance of community amenities, which helps maintain occupancy levels despite the longer days on market for sales.
The Section 8 investment verdict for 77084 leans toward stability and modest appreciation rather than aggressive cash-flow spikes. The tight alignment between the $1,560 SAFMR and market rent means landlords will not realize a premium above market rates via vouchers. However, the area’s strong institutional employment and family-oriented character reduce default risk, making this a solid "hold" strategy for investors seeking reliable payments in a high-quality suburban environment.
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.