Location: Houston-The Woodlands-Sugar Land, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,320 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,600 |
| 3 Bedrooms | $2,160 |
| 4 Bedrooms | $2,670 |
| 5 Bedrooms | $3,097 |
| 6 Bedrooms | $3,469 |
| 7 Bedrooms | $3,747 |
| 8 Bedrooms | $3,934 |
The ZIP code 77387 in Unknown, TX, presents a unique challenge for analysis due to the lack of specific population and income data. However, we can still provide insights based on the available information regarding the rental market and the federal housing voucher program.
The Federal Market Rent (FMR) for ZIP 77387 is set at $1470 for FY 2024. This figure represents the average market rent for a modest home suitable for a family of four and is used as a benchmark for determining the value of housing vouchers in the area. Given that the exact median household income is unavailable, it's difficult to calculate precisely how much of the local income would typically be consumed by rent. However, the general rule of thumb is that rent should not exceed 30% of an individual's or household's income to be considered affordable.
To determine whether ZIP 77387 is renter-heavy or dominated by homeowners, additional research is necessary. Typically, areas with a high percentage of renters and limited affordable housing options see a higher demand for Section 8 vouchers. The absence of specific data on the percentage of renters suggests that landlords must rely on local knowledge and trends to gauge the demand for voucher-assisted tenants.
In the context of the FMR, landlords should anticipate that tenants using Section 8 vouchers will be looking for units priced around or below $1470. This is the maximum amount that the voucher program will cover, so landlords must ensure their rents are competitive within this range to attract voucher holders. While we cannot provide a direct comparison to the median market rent due to missing data, it is safe to assume that if market rents exceed the FMR, there will be a significant portion of the population unable to afford them without assistance.
The expected tenant profile in ZIP 77387 includes individuals and families who rely on Section 8 vouchers to secure housing. These tenants are likely to have low to moderate incomes, making up a substantial part of the rental market. Landlords should prepare to work with the Housing Authority and understand the requirements and regulations associated with accepting voucher holders. They should also consider offering units that meet the criteria for being modest homes, which generally aligns with the FMR threshold.
In conclusion, while detailed income and population data are lacking for ZIP 77387, the presence of a $1470 FMR indicates that there is a segment of the population that relies heavily on rental assistance programs. Landlords must tailor their offerings to accommodate these needs and comply with the relevant housing authorities to successfully manage properties in this area.
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.