Location: Corpus Christi, TX | Metro: Corpus Christi, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,100 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
The Fair Market Rent (FMR) for ZIP code 78335 in fiscal year 2024 is set at $1350. This figure represents the payment standard for Section 8 housing vouchers, meaning that if you participate in the program, the government will pay up to $1350 per month for a rental unit in this area. It's important to note that this is not the amount tenants will pay in rent; it's the maximum subsidy amount.
To understand the demand for Section 8 rentals, consider that the renter share in ZIP 78335 is N/A%. This indicates that N/A% of residents are renters, suggesting a significant portion of the population might be interested in subsidized housing options. However, since specific numbers are not available, you should verify local demand through direct market research or by consulting with local housing authorities.
The acquisition cost for properties in ZIP 78335 is also listed as N/A. This would typically refer to the average price of purchasing a property in the area, but without concrete data, you'll need to look into recent property sales or consult real estate agents for an accurate assessment of costs.
A key factor to verify before entering the Section 8 market is the condition and compliance of your property. The Housing Quality Standards (HQS) must be met to qualify for the program. This includes ensuring your rental unit is safe, decent, and sanitary, which can involve making necessary repairs or upgrades. The exact requirements can vary, so it's crucial to review the specific HQS criteria applicable to ZIP 78335.
In summary, with an FMR of $1350, there is potential for steady income through government subsidies. However, understanding the local market—both in terms of demand and property costs—is essential. Before committing to a Section 8 rental, ensure your property meets all required standards to avoid complications once enrolled in the program.
Data Sources: FMR data from HUD (2027).
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.