Location: Live Oak County, 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)
The economics of Section 8 housing in ZIP code 78383 are governed by the SAFMR (Small Area Fair Market Rent) which is specifically tailored to this region. For a two-bedroom apartment, the SAFMR for FY 2024 is set at $1140. This figure represents the maximum amount that the housing authority will pay towards a tenant's rent, based on the local rental market conditions.
In contrast, the local market rent for a two-bedroom unit in ZIP 78383 is reported to be $969 according to Census ACS data. This indicates that the SAFMR exceeds the average market rent by $171, suggesting a potential surplus for landlords who participate in the program.
A voucher payment under Section 8 consists of two parts: the tenant contribution and the housing authority subsidy. The tenant contribution is typically 30% of their adjusted income, and any amount above that up to the SAFMR is covered by the housing authority. Additionally, there are utility allowances which vary but generally do not cover the entire cost of utilities, leaving a portion for the tenant to pay.
To illustrate, if a tenant's adjusted income is $1500 per month, they would contribute 30%, or $450, toward the rent. The housing authority would then cover the difference between the tenant's contribution and the SAFMR. In this case, the housing authority would pay $690 ($1140 - $450) to bring the total rent to the SAFMR level of $1140.
Given that the local market rent is lower than the SAFMR, landlords can expect to receive the full SAFMR amount of $1140 for a two-bedroom unit, even though the market rate is $969. This results in a surplus for landlords who accept Section 8 vouchers, as they are effectively receiving more than the typical market rate for a similar property.
The typical reimbursement gap or surplus for a two-bedroom apartment in ZIP 78383 is therefore a surplus of $171 per month, calculated as the difference between the SAFMR ($1140) and the local market rent ($969).
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.