Location: Houston-The Woodlands-Sugar Land, 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 | $1,110 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,820 |
| 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,140 | $137,210 | 0.83% | C |
| 2BR | $1,350 | $166,012 | 0.81% | C |
| 3BR | $1,820 | $247,598 | 0.74% | D |
| 4BR | $2,260 | $292,139 | 0.77% | D |
| 5BR | $2,622 | $345,417 | 0.76% | D |
U.S. Census Bureau data (2024)
The ZIP code 77532, located in Crosby, TX, presents an interesting scenario for both renters and landlords. The median household income in this area is $92,201, which provides insight into the financial capacity of residents to cover housing costs. At a market rental rate of $1,956 per month (ZORI), it becomes evident that many households would struggle to afford these rates without significant budget constraints.
To put this into perspective, let’s consider the federal housing voucher payment standard for ZIP 77532, which is set at $1,150 for fiscal year 2024. This amount represents a substantial difference from the market rate, highlighting the affordability gap faced by renters. For a household earning the median income, the ZORI of $1,956 would consume approximately 25% of their monthly income, assuming no other expenses. In contrast, the voucher payment standard of $1,150 would only use up about 14% of the median income, making it a more viable option for many.
Given that 13.9% of the population are renters and the total population is 33,780, the competition among landlords for tenants who can pay the market rate is likely to be high. However, the number of such households might be limited due to the high cost of living relative to income levels. On the other hand, there is potential for a larger pool of tenants who could benefit from the lower voucher payment standard, thus increasing demand for properties that accept vouchers.
The takeaway for landlords considering their strategy in ZIP 77532 is clear. While cash-paying tenants willing to meet the $1,956 market rate are available, they represent a smaller segment of the market. Accepting vouchers at $1,150 could attract a broader range of tenants, ensuring a steadier stream of rental income. Landlords should weigh the benefits of higher cash rents against the stability and accessibility offered by accepting vouchers, particularly in a competitive market where affordability is a key concern for many.
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.