Location: Corpus Christi, TX | Metro: Corpus Christi, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
U.S. Census Bureau data (2024)
ZIP code 78343 is situated within the Corpus Christi, TX HUD Metro FMR Area. Its Fair Market Rent (FMR) for FY 2024 is set at $1140, which is higher than the average market rent of $924. This indicates that the rental rates in 78343 are above what tenants might typically pay on the open market, suggesting a slight premium for subsidized housing.
The median home value in 78343 is $140,651, which is relatively low compared to other ZIP codes within the Corpus Christi metro area. This lower home value can be indicative of a value pocket where landlords can acquire properties at a lower cost while still benefiting from higher FMR rates.
The renter share in 78343 stands at 17.0%, which is a notable figure but not necessarily indicative of a high concentration of renters compared to other areas. However, when combined with the lower home value and higher FMR, it does suggest that 78343 could be an attractive location for Section 8 tenants. The discrepancy between the market rent and the FMR provides a buffer that can help landlords manage their properties effectively under the Section 8 program.
In summary, ZIP 78343 appears to be a value pocket within the Corpus Christi, TX HUD Metro FMR Area. It offers landlords the opportunity to purchase properties at a lower price point while maintaining a fair margin due to the higher FMR rates. The combination of these factors makes it a potentially lucrative area for Section 8 participation.
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.