Section 8 Fair Market Rent (FMR) for ZIP 77466 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,190
1 Bedroom	$1,220
2 Bedrooms	$1,460
3 Bedrooms	$1,960
4 Bedrooms	$2,430
5 Bedrooms	$2,819
6 Bedrooms	$3,157
7 Bedrooms	$3,410
8 Bedrooms	$3,581

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the available data, the Fair Market Rent (FMR) for ZIP 77466 in fiscal year 2024 is set at $1150. However, the market rent for the area is not directly specified, but according to recent sources, typical rental prices for 2-bedroom units in ZIP 77466 range from $750 to $999 per month, inclusive of utilities. This suggests that the FMR is higher than the average market rent, indicating a significant gap.

The gap between the FMR and the market rent is substantial. For instance, if we take the upper limit of the market rent range ($999), the difference between the FMR ($1150) and the market rent is $151, which represents approximately a 15.1% premium over the market rate. This premium makes ZIP 77466 an attractive yield play for landlords and small-portfolio investors who can accept housing voucher tenants.

The reason for this attractiveness is straightforward: voucher tenants pay their portion of the rent (typically 30-40% of their income) and the government covers the remaining amount up to the FMR. In ZIP 77466, with a median income of $46,750, the tenant's contribution would be around $1,400 to $1,870 annually, translating to roughly $117 to $156 monthly. Given that the FMR is $1150, the landlord would receive a consistent and reliable payment from the government subsidy, ensuring a higher occupancy rate and steady cash flow.

Moreover, the percentage of renters in ZIP 77466 stands at 24.1%, indicating a reasonable demand for rental properties. Although the median home value is not specified, the high number of renters suggests that there is a strong market for rental properties, especially those that cater to voucher holders.

In conclusion, the gap between the FMR and the market rent in ZIP 77466 presents a clear opportunity for landlords and small-portfolio investors to benefit from the housing voucher program. By accepting voucher tenants, they can secure a higher rent than the typical market rate, making it a strategic investment choice.

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.