Location: Beaumont-Port Arthur, TX | Metro: Beaumont-Port Arthur, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
U.S. Census Bureau data (2024)
The median income in ZIP code 77702 stands at $62,125, which places significant constraints on the average household's ability to afford the market rate rent of $1,147. This figure represents a substantial portion of their income, making it challenging for many residents to secure housing without financial assistance.
In comparison, the Fair Market Rent (FMR) set by the government for ZIP code 77702 in fiscal year 2024 is $1,170. While this amount is slightly higher than the market rate, it still presents a financial hurdle for the majority of renters given their income levels.
With 36.3% of the 3,121 population being renters, the demand for affordable housing is considerable. The affordability gap means that landlords will face stiff competition from properties accepting Housing Choice Vouchers, as these vouchers help cover a larger portion of the rent, making it more accessible for low-income households.
For landlords considering their strategy regarding voucher acceptance versus cash-paying tenants, the key takeaway is that while voucher payments may be slightly above the market rate, they ensure a steady stream of rental income. Accepting vouchers can attract a segment of the market that might otherwise struggle to pay even the lower end of market rates, thereby reducing vacancy risks and stabilizing cash flow.
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.