Location: McMullen County, TX | Metro: Bee County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The ZIP code 78071 presents a dynamic rental market characterized by specific metrics that indicate a balance between supply and demand, leaning slightly towards a scenario where demand may be catching up with supply. The Fair Market Rent (FMR) set at $1,020 for fiscal year 2026 reflects the federal government's assessment of what constitutes a fair rent level in the area. This figure is notably higher than the current market rent of $915 based on the latest Census American Community Survey (ACS) data, suggesting potential upward pressure on rents as the market aligns with the FMR guidelines.
A low price-cut share of 0.1% indicates that landlords are generally not reducing their asking prices to attract tenants, which could imply that the current rent levels are acceptable to the market or that there is a competitive edge favoring those who maintain their pricing without significant adjustments. The median home value of $222,352 provides insight into the overall property values within the ZIP code, though the lack of days on market (DOM) data for rentals makes it challenging to assess the speed at which properties are being leased.
The 40.2% renter share suggests a significant portion of the population prefers renting over owning, which can be indicative of several factors such as affordability, mobility, or lifestyle choices. This high percentage of renters can exert long-term pressure on the housing market, potentially leading to sustained demand for rental properties. Landlords and small-portfolio investors should consider this trend when evaluating the potential stability and growth of their investment returns in ZIP 78071.
In summary, ZIP 78071 is a market where current rents are below the anticipated FMR, indicating a possible future increase. The low rate of price cuts and the substantial renter share suggest a resilient market with steady demand. These elements frame the ZIP code as an area where rental investments can thrive, given the ongoing need for affordable housing options.
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.