Location: Houston-The Woodlands-Sugar Land, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $2,170 |
| 5 Bedrooms | $2,517 |
| 6 Bedrooms | $2,819 |
| 7 Bedrooms | $3,045 |
| 8 Bedrooms | $3,197 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP 77661 in Houston-The Woodlands-Sugar Land, TX, for FY 2024 is set at $960 for a single-bedroom unit. However, recent market data from Realtor.com indicates that the typical market rent for a 1-bedroom unit in ZIP 77661 is $1,434 per month. This means that voucher tenants will only cashflow at the FMR level with premium units, as the FMR does not cover the average market rent.
The median home value in ZIP 77661 is $202,498, which provides a basis for calculating the rent-to-price ratio. With the market rent at $1,434, the rent-to-price ratio is approximately 0.85%, indicating a relatively low rental yield compared to the property value. This suggests that while appreciation may be a factor in investment decisions, the primary focus for investors should be on the stability and reliability of Section 8 vouchers.
Note that the day-on-market (DOM) and price-cut share figures were not available, but given the current market conditions and the high demand for affordable housing, it is likely that rental properties in ZIP 77661 will remain in high demand. The strongest investor angle in this area is stability, as the Section 8 program ensures consistent tenant payments and reduces the risk of vacancy.
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.