Location: Brazoria County, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,850 | $345,333 | 0.54% | F |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP code 77444 provides insight into the potential investment returns for landlords and small-portfolio investors. The Fair Market Rent (FMR) for a 2-bedroom apartment in ZIP 77444 for fiscal year 2024 is set at $1230 per month. To annualize this figure, multiply it by 12, yielding an annual rental income of $14,760.
The median home value in ZIP 77444 is $315,204. Using this figure, we can calculate the implied gross yield for a property purchased at the median price. The gross yield is calculated as the annual rental income divided by the purchase price. For the FMR scenario, the gross yield is approximately 4.7%, derived from $14,760 / $315,204. This calculation assumes that the property is rented out at the FMR rate, which is the maximum amount that a Section 8 voucher will cover.
However, the market rent for 2-bedroom apartments in ZIP 77444 is currently not available. Without this data, it's impossible to accurately compare the gross yields between the FMR and market rent scenarios. Nonetheless, it's important to note that market rents often exceed FMR rates, particularly in areas with higher demand and limited supply.
Given the 12.0% renter density in ZIP 77444, it's likely that the market for Section 8 vouchers is competitive. Landlords who participate in the Section 8 program should expect a stable tenant base, albeit at potentially lower rental income compared to market rates. The Days on Market (DOM) figure is also not available, which could provide additional context on how quickly properties are rented out in this area.
In conclusion, based on the FMR data, the gross yield for a 2-bedroom property in ZIP 77444 is approximately 4.7%. This figure serves as a baseline for potential returns under the Section 8 program. However, without market rent data, it's difficult to provide a more comprehensive comparison. Investors should consider these factors alongside other local market conditions to determine the most realistic gross yield for their investment strategy.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.