Location: Walker County, TX | Metro: Grimes County, TX
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 | $940 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,540 | $367,175 | 0.42% | F |
U.S. Census Bureau data (2024)
The Section 8 housing situation in ZIP code 77831 presents a clear gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR is set at $1,050, whereas the Census American Community Survey (ACS) indicates that the market rent stands at $1,285. This means there is a $235 difference, or a 22.2% gap, between what landlords can charge through the Section 8 program and the prevailing market rates.
Given that the FMR is lower than the market rent, landlords who accept Section 8 vouchers in ZIP 77831 must be prepared to absorb the difference. The cost of housing voucher tenants below open-market rates can impact profitability. However, the area's demographic context offers a broader perspective on investment potential. With only 9.1% of residents being renters, landlords might find a niche opportunity in catering to those who qualify for the Section 8 program, especially considering the high median home value of $338,016 which suggests a strong local economy.
The median income in ZIP 77831 is $58,229, indicating that while it is not a low-income area, there are still residents who need assistance to afford housing. Landlords should weigh the benefits of serving these tenants against the financial implications of accepting lower rents. The lower FMR compared to market rent means landlords must decide whether the steady income from voucher tenants compensates for the reduced rental rate.
To summarize, the $235 or 22.2% gap between FMR and market rent represents a significant consideration for landlords in ZIP 77831. While the overall rental market is limited due to the low percentage of renters, the higher median home values and incomes suggest a stable economic environment. Therefore, accepting Section 8 vouchers could be a strategic decision to ensure consistent occupancy and income, even if it means a slight reduction in rental rates.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.