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)
The ZIP code 78401 stands out due to its unique demographic and economic characteristics. With a total population of 4,344 residents, it has an exceptionally high rental rate at 86.0%, indicating a strong preference for renting over owning property among its inhabitants. The median income here is $40,841, which is relatively modest compared to the median home value of $98,970, suggesting that homeownership might be challenging for many local residents.
Turning to the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 78401 for fiscal year 2024 is set at $1,140. This figure is slightly below the market's ZORI (Zillow Observed Rental Index) rate of $1,195, implying that landlords who accept vouchers may face a minor financial gap when compared to market rates. However, the proximity of these two figures suggests that the impact on landlords' revenue could be minimal, especially considering the security and stability that government-backed vouchers can provide.
Based on the data available, ZIP 78401 appears to have a stable housing market. The high rental rate coupled with a modest median income indicates a consistent demand for affordable housing options, which aligns well with the availability of Section 8 vouchers. Landlords and small-portfolio investors should consider the slight difference between FMR and market rates but also recognize the potential for long-term, secure tenancy through voucher programs. This ZIP code presents an opportunity for those willing to navigate the nuances of the local housing economy.
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.