Section 8 Fair Market Rent (FMR) for ZIP 78405 - 2027

Location: Corpus Christi, TX | Metro: Corpus Christi, TX HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

14,602

Median Household Income

$38,294

Housing Units

6,334

Renter Percentage

49.0%

Occupancy Rate

81.2%

Renter Occupied

2,522

The ZIP code 78405, located in San Antonio, Texas, is a vibrant urban neighborhood characterized by its diverse population and affordable living conditions. This area presents a unique opportunity for real-estate investors interested in the Section 8 housing market, offering a blend of low-cost properties and a significant number of renters who rely on government assistance.

The Fair Market Rent (FMR) for ZIP 78405 for fiscal year 2024 is set at $1140, providing landlords with a benchmark for rental pricing that aligns with HUD guidelines.
The market rent, as indicated by the Zillow Observed Rent Index (ZORI), stands at $950. This suggests that there is room for landlords to increase their rents slightly while still remaining competitive in the local market.
The median home value in ZIP 78405 is $78,062, making it an attractive location for investors looking to purchase properties at a lower cost compared to other areas in San Antonio.
Renters make up 49.0% of the housing market in this ZIP code, indicating a strong demand for rental properties and a potential pool of tenants eligible for Section 8 vouchers.
The median income in ZIP 78405 is $38,294, which is below the national average, further supporting the reliance on affordable housing options such as those subsidized by Section 8.

Synthesizing these points, ZIP 78405 offers a solid investment opportunity for landlords and small-portfolio investors interested in the Section 8 market. The combination of a median home value well below the average for the region, a substantial renter share, and a median income indicative of a need for affordable housing subsidies, creates a favorable environment for Section 8 rentals. Landlords can expect a steady demand for units priced around the HUD-set FMR, with the potential to slightly exceed the ZORI without alienating tenants. However, they should be prepared to navigate the requirements and regulations associated with participating in 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.