Location: Corpus Christi, TX | Metro: Corpus Christi, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $2,120 |
| 5 Bedrooms | $2,459 |
| 6 Bedrooms | $2,754 |
| 7 Bedrooms | $2,974 |
| 8 Bedrooms | $3,123 |
U.S. Census Bureau data (2024)
The ZIP code 78402, located in Travis County, Texas, has a distinct profile that sets it apart from other areas. With a total population of 554 residents, 26.0% of whom rent their homes, the area maintains a balance between homeownership and rental properties. The median income in ZIP 78402 stands at $55,565, reflecting a middle-class community. Meanwhile, the median home value is notably higher at $84,718, indicating a stable housing market.
For landlords and small-portfolio investors interested in Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 78402 is set at $1430 for fiscal year 2024. This figure is crucial for understanding the economic viability of accepting Section 8 tenants. Given the lack of specific market rent data, the FMR provides a benchmark for rental rates in subsidized housing. Accepting Section 8 vouchers can ensure steady cash flow, as payments are directly made by the government, though it's important to note that the rent ceiling might limit potential profits compared to market-rate rentals.
Evaluating the overall data signature of ZIP 78402, it reads as relatively stable. The combination of a moderate rental rate and a higher median home value suggests a mature neighborhood where both homeowners and renters coexist. The median income is also a key indicator of stability, as it implies a consistent level of financial health among residents. However, with only 26.0% of the population renting, there may be limited demand for rental properties, which could make the acceptance of Section 8 vouchers an attractive option for landlords looking to fill vacancies.
For investors considering the long-term outlook, the stable characteristics of ZIP 78402 provide a predictable environment. The presence of Section 8 vouchers offers a reliable source of income, but the decision should also consider the overall rental market dynamics and the specific needs of the property. Given the current data, ZIP 78402 appears to be a stable ZIP code with a niche opportunity for those willing to engage with the Section 8 program.
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.