Location: Corpus Christi, TX | Metro: Corpus Christi, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,120 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $1,950 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
U.S. Census Bureau data (2024)
The ZIP code 78413 in Corpus Christi, TX, stands out within Nueces County due to its robust population of 34,289 residents and a significant rental market share of 42.8%. With a median income of $72,815 and a median home value of $260,188, it reflects a community that is financially stable but also heavily reliant on rental properties. This ZIP code offers an intriguing opportunity for landlords and small-portfolio investors, especially when considering the dynamics of the Section 8 housing voucher program.
The Fair Market Rent (FMR) for ZIP 78413 for fiscal year 2024 is set at $1,530, which is notably higher than the market rent as measured by ZORI (Zillow Observed Rent Index), currently at $1,130. This discrepancy presents a potential advantage for landlords who accept vouchers, as they can receive higher rents compared to typical market rates. The higher FMR suggests that the government recognizes the need to support a greater portion of the rent in this area, making it a favorable environment for those looking to invest in rental properties that cater to voucher holders.
Evaluating the data signature of ZIP 78413, it appears to be a stable market. The median income is relatively high for the region, indicating a strong economic foundation. Additionally, the median home value suggests a desirable living area that attracts both renters and homeowners. While the rental market is substantial, the income levels and home values indicate a steady demand for housing, which bodes well for long-term investments. For landlords, accepting Section 8 vouchers can be a strategic move to capitalize on the government's willingness to pay higher rates, ensuring a consistent stream of income while serving a vital segment of the community.
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.