Section 8 Fair Market Rent (FMR) for ZIP 77328 - 2027

Location: San Jacinto County, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,000
1 Bedroom	$1,050
2 Bedrooms	$1,210
3 Bedrooms	$1,580
4 Bedrooms	$2,020
5 Bedrooms	$2,343
6 Bedrooms	$2,624
7 Bedrooms	$2,834
8 Bedrooms	$2,976

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

17,208

Median Household Income

$62,428

Housing Units

7,013

Renter Percentage

20.5%

Occupancy Rate

87.6%

Renter Occupied

1,260

Housing Authorities Serving ZIP 77328

Housing Authority of Montgomery County (Conroe, TX) - 400 Section 8 vouchers
Liberty County Housing Authority (Liberty, TX) - 271 Section 8 vouchers
Housing Authority of the City of Dayton (Dayton, TX)
Housing Authority of Cleveland (Cleveland, TX)

Cleveland, TX, located in ZIP code 77328, is a growing suburban community that offers a mix of residential and commercial opportunities. The area's proximity to Houston makes it attractive for both residents and investors looking to capitalize on the region's economic growth.

The Fair Market Rent (FMR) for ZIP 77328 in fiscal year 2024 is set at $1,150, providing a benchmark for rental pricing.
The actual market rent, as measured by ZORI (Zillow Observed Rent Index), stands at $1,741, indicating that Cleveland's rental market is currently outperforming the FMR.
The median home value in Cleveland, TX, is $261,013, which reflects the affordability and potential for appreciation in this area.
Renters make up 20.5% of the population, showing a significant demand for rental properties but also leaving room for homeownership opportunities.
The median income in the area is $62,428, suggesting that residents have the financial stability to support higher rental rates.

The combination of a strong rental market, with actual rents surpassing the FMR, and a median income that supports higher rent payments presents a favorable investment climate for landlords and small-portfolio investors in Cleveland, TX. The relatively low median home value indicates that there is still potential for growth in property values, making this area attractive for long-term investments. However, the presence of a substantial homeowner population means that rental demand is robust but not overwhelming, creating a balanced market 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.