Location: Houston-The Woodlands-Sugar Land, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,360 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,220 |
| 4 Bedrooms | $2,760 |
| 5 Bedrooms | $3,202 |
| 6 Bedrooms | $3,586 |
| 7 Bedrooms | $3,873 |
| 8 Bedrooms | $4,067 |
U.S. Census Bureau data (2024)
The ZIP code 77505 in Pasadena, TX, stands out within Harris County due to several key demographic and economic factors. With a population of 23,174 residents, 30.9% of whom rent their homes, the area reflects a significant rental market presence. The median household income in ZIP 77505 is $98,125, placing it above the national average, while the median home value is notably high at $313,350. These figures indicate a relatively affluent community that is also accessible to renters.
Moving to the specifics of Section 8 housing economics, the Fair Market Rent (FMR) for ZIP 77505 in fiscal year 2024 is set at $1,480. This figure is slightly below the market rate, as indicated by the Zillow Rent Index (ZORI), which stands at $1,514. For landlords and small-portfolio investors, this means that while there is a slight discrepancy between the FMR and the market rate, the gap is minimal, making the area attractive for Section 8 tenants without significantly impacting rental income.
When analyzing the overall data signature of ZIP 77505, it can be characterized as stable. The relatively high median income and home values suggest a strong local economy and a solid base of homeownership, which supports long-term stability. Additionally, the close alignment between the FMR and ZORI indicates that the rental market is well-regulated and predictable, further reinforcing the sense of stability. This stability is beneficial for landlords and investors looking for consistent returns and low risk in their investment properties.
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.