Location: Corpus Christi, TX | Metro: Corpus Christi, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
U.S. Census Bureau data (2024)
Investing in Section 8 properties in ZIP code 78411 comes with several notable risks that landlords must consider. Tenant turnover is a significant concern, as the market rent of $1,663 far exceeds the Fair Market Rent (FMR) for FY 2024, which stands at $1,360. This discrepancy can lead to higher turnover rates, as tenants might struggle to afford the difference between their voucher coverage and the actual rental price.
Vacancy exposure is another critical issue. The average days on market (DOM) for properties in this area is currently N/A, indicating a lack of data or significant variability in the time it takes to fill vacancies. Given the high market rents compared to FMRs, landlords may face extended periods of vacancy if they do not adjust their pricing to align with voucher limits.
The deferred maintenance exposure is also considerable. With a typical home value of $192,522 and a median household income of $57,742, many homeowners may find it challenging to keep up with necessary repairs and maintenance, especially when relying on government assistance programs. This could result in higher maintenance costs and potential compliance issues for landlords who participate in Section 8.
However, these risks are somewhat offset by the high concentration of renters in the area. ZIP 78411 boasts a 40.4% renter share, suggesting a robust demand for rental properties. This high density of renters typically translates into a greater number of Section 8 vouchers being utilized, providing a stable source of income for landlords willing to accept them.
In summary, the investment risk for a first-time Section 8 landlord in ZIP code 78411 is moderate.
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.