Location: Houston-The Woodlands-Sugar Land, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,220 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,470 |
| 5 Bedrooms | $2,865 |
| 6 Bedrooms | $3,209 |
| 7 Bedrooms | $3,466 |
| 8 Bedrooms | $3,639 |
U.S. Census Bureau data (2024)
ZIP code 77090, located in Houston, TX, falls within the larger Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1,350. Comparatively, the average market rent across the entire metro area is $1,123, indicating that 77090 has a higher-than-average FMR. The median home value in 77090 is $246,874, which is below the typical range for the metro area. This suggests that 77090 could be considered a value pocket within the broader market.
The renter share in 77090 is quite high at 70.7%. This figure is notably above the average for the metro area, which typically hovers around 50%. High renter shares can indicate areas where rental housing is in greater demand, often due to affordability or accessibility factors. Given the combination of a below-average home value and a high renter share, 77090 appears to be an attractive location for landlords participating in the Section 8 program. It likely offers opportunities for stable occupancy rates and a tenant pool that benefits from federal assistance.
Investors should note the divergence between the relatively high FMR and the lower home value. This discrepancy often signals a sweet spot for Section 8 participation, as it can allow landlords to receive higher rental income relative to their investment cost while still remaining affordable for tenants receiving housing vouchers.
To summarize, ZIP 77090 stands out as a value pocket within the Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area, with a high renter share and below-average home values, making it a potentially strong candidate for Section 8 properties.
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.