Location: Corpus Christi, TX | Metro: Corpus Christi, TX HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,240 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,420 |
| 5 Bedrooms | $2,807 |
| 6 Bedrooms | $3,144 |
| 7 Bedrooms | $3,396 |
| 8 Bedrooms | $3,566 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,650 | $140,696 | 1.17% | B |
U.S. Census Bureau data (2024)
The market in ZIP 78412, Corpus Christi, TX, reflects a dynamic equilibrium between supply and demand, with slight indications that demand may be catching up. The Fair Market Rent (FMR) for the area, set at $1500 for fiscal year 2024, is notably higher than the actual market rent as indicated by ZORI (Zillow Observed Rental Index), which stands at $1,412. This suggests that while landlords might aim for higher rents based on government guidelines, the current market conditions are driving rents slightly below these targets.
A key metric, the 0.2% price-cut share, indicates that very few listings are being discounted, which could imply that the majority of rental properties are finding tenants at their listed rates. However, the absence of data regarding days on market (DOM) leaves some ambiguity around how quickly units are renting, which is crucial for understanding the speed at which demand is absorbing supply.
The median home value in the area is $193,876, which is relatively low compared to national averages, making homeownership accessible but also potentially attractive to renters who might consider purchasing homes. This accessibility can create pressure on the rental market as potential buyers may be deterred by the affordability of homeownership, thus maintaining a steady flow of renters.
The 55.1% renter share underscores a significant long-term housing pressure. Over half of the residents are renters, suggesting a robust and persistent demand for rental properties. This high percentage of renters can indicate several underlying factors: a transient population, affordability issues for homeownership, or an economy that supports rental living. Regardless of the cause, it signals that landlords and small-portfolio investors should expect consistent demand for rental properties in this area.
In summary, ZIP 78412 presents a rental market where demand is steady and slightly outpacing supply, given the high renter share and the proximity of actual rents to the FMR. Investors should capitalize on this trend, as the market dynamics suggest a reliable tenant base and potential for rental income growth.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.