Location: Beaumont-Port Arthur, TX | Metro: Beaumont-Port Arthur, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
U.S. Census Bureau data (2024)
The ZIP code 77585 stands out due to its unique mix of low rental population and high median home values. With only 16.4% of the 1,112 residents renting, it suggests a predominantly owner-occupied area. The median home value in this ZIP is notably high at $160,579, which is significantly above the national average.
The Fair Market Rent (FMR) for ZIP 77585 is set at $1,080 for the fiscal year 2024. This figure is crucial for landlords participating in the Section 8 program as it determines the maximum allowable rent for subsidized units. However, the absence of current market rent data makes it challenging to compare the FMR with actual market conditions, potentially leading to discrepancies in rental pricing.
Given the limited rental market and the high median home value, landlords in ZIP 77585 should be cautious about setting rents that align with the FMR. If the actual market rent is lower than the FMR, landlords might find themselves undercharging for their properties. Conversely, if the market rent is higher, they will need to ensure their rents do not exceed the FMR to remain eligible for the Section 8 program.
The data signature for ZIP 77585 reads as stable, with a relatively low percentage of renters and high home values indicating a mature residential market. However, the lack of median income data introduces an element of uncertainty, suggesting that while the housing market appears stable, economic factors affecting affordability could still be transitional.
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.