Location: Houston-The Woodlands-Sugar Land, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,210 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,980 |
| 4 Bedrooms | $2,460 |
| 5 Bedrooms | $2,854 |
| 6 Bedrooms | $3,196 |
| 7 Bedrooms | $3,452 |
| 8 Bedrooms | $3,625 |
The ZIP code 77221 in Houston, TX, presents a moderate yield and stability scenario for real estate investors. The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 77221 for fiscal year 2024 is set at $1,330. This figure is higher than the statewide average of $1,109, indicating a better rental yield potential compared to the broader Texas market.
However, specific data points for market value, home values, and income levels are not available directly for ZIP 77221. Based on the broader Houston metropolitan area, the average household income stands at $71,935. This suggests that while there is a decent rental yield, the income levels might be somewhat stable, supporting a consistent cash flow.
The lack of precise data for days on market (DOM) and the percentage of renters in ZIP 77221 limits a comprehensive analysis of market stability. However, given the higher FMR compared to the state average and the presence of a diverse economy in Houston, it is reasonable to assume that this area leans towards a steady cash flow zone rather than a high-yield/low-stability market. Investors seeking both yield and stability would find ZIP 77221 a viable option, especially if targeting rental properties.
While the exact figures for renters' percentage and DOM are unavailable, the overall economic conditions and rental prices suggest a balanced approach to investment in this ZIP code. The higher FMR supports the idea that it is not a low-stability market but rather one where yields are above average and stability is likely due to the strong rental demand in Houston.
Data Sources: FMR data from HUD (2027).
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.