Location: Houston-The Woodlands-Sugar Land, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $1,970 |
| 4 Bedrooms | $2,440 |
| 5 Bedrooms | $2,830 |
| 6 Bedrooms | $3,170 |
| 7 Bedrooms | $3,424 |
| 8 Bedrooms | $3,595 |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $1180 for ZIP code 77563 in Hitchcock, TX, for fiscal year 2024, landlords can expect a reasonable rental income that aligns with the local housing market's average. The Zillow Observed Rent Index (ZORI) indicates a slightly higher market rent at $1,470, suggesting that properties meeting certain quality standards could command a premium. Given the median home value stands at $253,446, investing in residential real estate in this area promises a solid asset base. Renter share, at 26.9%, reflects a significant portion of the population leasing homes, making it a viable market for rental properties. Median income of $75,806 provides insight into the earning capacity of potential tenants, indicating a stable economic environment for rental operations. Despite the lack of available days on market (DOM) data, the low price-cut share of 0.2% suggests that once listed, properties tend to sell without needing significant price adjustments, which is favorable for long-term investment stability. In conclusion, while the disparity between the FMR and ZORI highlights a competitive rental market, the strong median home value and median income figures support a positive outlook for property investments in Hitchcock, TX. The verdict on Section 8 participation? Landlords should consider it, given the alignment with the $1180 FMR, but may find better returns by targeting the broader market where rents can reach $1,470.
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.