Location: Corpus Christi, TX | Metro: Corpus Christi, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,850 |
| 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)
0.0% of the residents in ZIP code 78347 are renters, indicating a predominantly owner-occupied market. This statistic suggests that landlords might face stiff competition from homeowners when seeking tenants. Despite the low renter share, the Fair Market Rent (FMR) for the area stands at $1350, which is the maximum amount a Section 8 voucher holder can receive for housing assistance. Given the absence of specific market rent and median home value data, it's crucial to rely on the FMR as a benchmark for rental pricing. The lack of detailed data on days on market (DOM) and price-cut share implies stability in the real estate market, but also a potential gap in understanding local dynamics. For landlords and small-portfolio investors, focusing on properties that can be rented for close to the $1350 FMR would ensure compliance with HUD guidelines and maximize rental income under the Section 8 program. With no median income data available, it's advisable to assume a conservative approach and target lower-income families who are likely to benefit most from the voucher program. In conclusion, while the data is limited, the $1350 FMR provides a clear guideline for setting competitive rental rates in ZIP 78347.
Section 8 Verdict: Suitable for landlords willing to adhere to HUD's Fair Market Rent standards.
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.