Section 8 Fair Market Rent (FMR) for ZIP 77315 - 2027
Location: Houston-The Woodlands-Sugar Land, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| 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 77315, located in North Houston, Texas, presents several considerations for landlords and small-portfolio investors. Let's address some common objections:
- Will Fair Market Rent (FMR) $1330 cover the mortgage on a home in ZIP 77315?: According to recent real estate data, the median home price in ZIP 77315 is not specified, making it challenging to calculate an exact mortgage payment. However, using a typical down payment of 20% and a standard interest rate, a home priced around the median could have a monthly mortgage payment that falls below the FMR. This suggests that FMR might indeed cover the mortgage, though precise calculations require knowing the median home price.
- Is there enough renter demand at the current occupancy rate?: The occupancy rate for ZIP 77315 is also not specified in the available data. However, the rental vacancy rate, which can be used as an indicator of demand, is not directly provided either. Without this specific data point, it's difficult to definitively state the level of renter demand. Generally, lower vacancy rates indicate higher demand, but we need more precise data to draw conclusions.
- Will vouchers keep pace with market rents in ZIP 77315?: The utilization of housing vouchers in ZIP 77315 is not detailed in the search results. To ensure that vouchers can keep pace with market rents, investors should look into local HUD guidelines and the cost of living adjustments in the area. While the FMR is set at $1330, the effectiveness of vouchers depends on how closely they align with actual market conditions. Investors should monitor these factors closely.
Note that the specific median home price and occupancy rate were not found in the current data, so some questions cannot be fully answered without additional information.
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.