Location: Corpus Christi, TX | Metro: Corpus Christi, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,330 |
| 1 Bedroom | $1,470 |
| 2 Bedrooms | $1,770 |
| 3 Bedrooms | $2,310 |
| 4 Bedrooms | $2,600 |
| 5 Bedrooms | $3,016 |
| 6 Bedrooms | $3,378 |
| 7 Bedrooms | $3,648 |
| 8 Bedrooms | $3,830 |
U.S. Census Bureau data (2024)
ZIP code 78374 is situated within the Corpus Christi, TX HUD Metro FMR Area. Its Fair Market Rent (FMR) for FY 2024 is set at $1730, slightly above the area's median market rent of $1,601. The home value in 78374 stands at $267,382, which is relatively standard compared to other ZIP codes in the Corpus Christi metro. With a 37.3% renter share, it indicates a significant portion of residents prefer renting over owning, aligning closely with the typical Corpus Christi metro profile.
To determine if 78374 represents a value pocket, a mid-tier neighborhood, or a premium sub-market, we can examine the figures more closely. A value pocket typically features lower-than-average home values and higher-than-average renter shares, making it attractive for Section 8 tenants. In contrast, a mid-tier neighborhood has average home values and renter shares, while a premium sub-market would have higher-than-average home values and potentially lower renter shares.
The FMR of $1730 is above the median market rent but not excessively so, suggesting that rental properties here could be competitive in terms of price. The 37.3% renter share is notably high, indicating strong demand for rentals. Coupled with the home value of $267,382, which is close to the metro average, this suggests that 78374 is neither a premium sub-market nor a value pocket, but rather a mid-tier neighborhood. However, the high renter share with a below-metro average home value could signal a potential sweet spot for Section 8 investments, as it combines accessibility with affordability.
In summary, ZIP code 78374 appears to be a mid-tier neighborhood within the Corpus Christi, TX HUD Metro FMR Area. It offers a balance between rental pricing and home values, with a high renter share that could make it particularly appealing for Section 8-focused real estate strategies.
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.