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 | $980 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,190 | $230,618 | 0.52% | F |
| 3BR | $1,600 | $318,401 | 0.5% | F |
| 4BR | $1,990 | $377,075 | 0.53% | F |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 77510 in Santa Fe, TX, for fiscal year 2024 is set at $1,080. This figure represents the benchmark for rental properties participating in the Section 8 Housing Choice Voucher program. In comparison, the Census American Community Survey (ACS) indicates that the average market rent for the same area is $1,267. This means that landlords accepting Section 8 vouchers will experience marginal cash flow, as their rental income will be slightly below the market rate but still sufficient to cover expenses in most cases.
To further analyze the market dynamics, consider the median home value in ZIP 77510, which stands at $326,592. Using this figure, we can derive the rent-to-price ratio, which is a key indicator for investment decisions. The ratio is calculated by dividing the annual rent ($1,267 x 12 months = $15,204) by the median home value ($326,592), resulting in approximately 4.66%. This ratio suggests that rental income is relatively low compared to the cost of property ownership, making it less attractive for buy-to-rent strategies.
The lack of available data on days on market (DOM) and price-cut shares does not significantly impact the analysis, as these metrics are more relevant to the buying market rather than the rental market. However, given the marginal cash flow and the relatively low rent-to-price ratio, the strongest angle for Section 8 investors in ZIP 77510 would be stability. Properties in this area are likely to provide consistent, though modest, returns, making them suitable for investors seeking long-term, steady income streams.
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.