Section 8 Fair Market Rent (FMR) for ZIP 77249 - 2027

FY 2027 Fair Market Rent Rates

1330 is the Fair Market Rent (FMR) for ZIP code 77249 as of fiscal year 2024. While the market rent remains unspecified, it's crucial to note that the FMR of $1330 serves as a benchmark for rental properties in this area. The median home value is also not available, indicating a lack of comprehensive data on property values. With an unknown percentage of renters in the area, landlords must rely on other indicators to gauge demand. Median income data is unavailable, which makes assessing the financial capacity of potential tenants challenging. Days on Market (DOM) figures are also not provided, leaving landlords without insights into how quickly properties are typically rented out. Similarly, the percentage of listings that require price cuts is unknown, suggesting a need for further investigation into local market conditions. Given the limited data, landlords should focus on maintaining rents close to the FMR of $1330 to remain competitive. The absence of detailed market metrics such as DOM and price-cut shares means that landlords will have to closely monitor their own performance and possibly gather additional local intelligence. In terms of Section 8 participation, the area presents a straightforward opportunity with the defined FMR. Landlords can expect a stable tenant pool willing to pay up to $1330 per month under the program, ensuring steady cash flow despite the lack of detailed market data.

Verdict: Participation in Section 8 in ZIP 77249 is advisable, given the defined FMR of $1330.

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.