Location: Walker County, TX | Metro: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
U.S. Census Bureau data (2024)
The ZIP code 77873 is characterized by a population of 1,383 individuals, with only 11.3% being renters. This indicates that the area is predominantly homeowner-dominated rather than renter-heavy, suggesting that the demand for rental properties using Section 8 vouchers will be relatively low. The median household income in this ZIP code stands at $80,938, which provides a baseline for understanding the economic context of potential tenants.
In terms of affordability, the typical market rent of $1,101 constitutes approximately 13.6% of the median household income. This figure is calculated by dividing the market rent by the median income ($1,101 / $80,938 * 100 = 13.6%). When compared to the Fair Market Rent (FMR) of $910 for FY 2024, it's clear that the market rent exceeds the FMR by about $191, indicating that landlords might face challenges in attracting voucher holders due to the higher rent costs.
A landlord in ZIP 77873 should expect tenants who are likely to have incomes below the median, given the nature of Section 8 vouchers. These tenants will be seeking affordable housing options and may struggle to find units within their budget constraints, especially if landlords do not adjust their rents to align closely with the FMR. Additionally, the limited number of renters suggests a smaller pool of potential voucher users, making competition for these tenants less intense but also reducing the overall number of eligible applicants.
To summarize, ZIP 77873 is not a prime location for targeting a heavy Section 8 tenant pool. Landlords must consider the relatively low percentage of renters and the higher market rent compared to the FMR when evaluating the suitability of this ZIP code for their investment strategy.
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.