Location: Victoria, TX | Metro: Victoria, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
1070 is the Fair Market Rent (FMR) for ZIP code 77993 as of fiscal year 2024, indicating the maximum amount a landlord can charge for a Section 8 rental unit. 10.5% represents the proportion of renters in the area, which is relatively low, suggesting a smaller pool of potential Section 8 tenants compared to other areas. While the median home value and median income data are not available, the absence of these figures does not necessarily indicate an unviable investment. The N/A for days on market (DOM) and the percentage of price-cut share further highlight gaps in detailed local market analysis, but the focus remains on the solid foundation provided by the FMR.
Landlords in ZIP 77993 should be aware that the $1070 FMR sets a clear boundary for rental pricing, ensuring that the cost is affordable for low-income families while still providing a reasonable return on investment. This figure is crucial for those looking to enter the Section 8 housing market, as it directly impacts the profitability and feasibility of renting properties under the program.
The low renter share of 10.5% means that landlords might face competition from homeownership opportunities, potentially affecting the demand for rentals. However, the Section 8 program can provide a steady stream of income, given the guaranteed subsidy payments from the government, making it an attractive option despite the lower renter population.
A final consideration for landlords is the lack of specific data regarding the DOM and price-cut share. This scarcity suggests that there may be limited turnover in the rental market, possibly due to the low renter share. Nonetheless, the reliability of Section 8 subsidies can offset these concerns, offering a predictable financial outcome.
Verdict: ZIP 77993 is a viable Section 8 market with a defined $1070 FMR, though the low renter share and lack of detailed market data require careful consideration.
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.