Location: Wharton County, TX | Metro: Wharton County, TX
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 | $850 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $940 | $67,449 | 1.39% | A |
| 2BR | $1,220 | $114,386 | 1.07% | B |
| 3BR | $1,630 | $200,952 | 0.81% | C |
| 4BR | $1,640 | $283,221 | 0.58% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 77488, Wharton, Texas, is set at $1,140 for the metro area fiscal year 2026. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, which is the maximum amount that the government will pay to landlords for eligible tenants. It's important to note that this is not the total rent you can charge; it's the government contribution.
To understand the financial implications, compare this to the average rent in the area. According to the Census American Community Survey, the typical rent in ZIP 77488 is around $1,078. This suggests that the FMR is slightly higher than the market average, which could be beneficial for landlords participating in the Section 8 program.
The demand for rentals in Wharton is significant, with 32.4% of residents being renters. This high percentage indicates a strong rental market, meaning there is likely to be a good number of potential Section 8 tenants interested in your property. However, the actual number of vouchers available and the waiting list length can impact the supply of eligible tenants.
If you're considering purchasing a property for a Section 8 rental, the median home value in ZIP 77488 is approximately $216,893. This figure should be factored into your investment calculations, along with other costs such as maintenance, insurance, and property taxes.
Before proceeding with a Section 8 rental, ensure you verify the local housing authority's voucher availability and waiting list status. This will give you a clearer picture of the likelihood of finding a tenant quickly and the ongoing management requirements.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.