Location: Kleberg County, TX | Metro: Corpus Christi, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,100 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $1,910 |
| 4 Bedrooms | $2,140 |
| 5 Bedrooms | $2,482 |
| 6 Bedrooms | $2,780 |
| 7 Bedrooms | $3,002 |
| 8 Bedrooms | $3,152 |
U.S. Census Bureau data (2024)
The ZIP code 78418 in Corpus Christi, TX, hosts a population of 29,790 individuals, with 31.8% of them being renters. This indicates a moderately renter-heavy environment, suitable for landlords looking to attract tenants who rely on housing vouchers. The median household income stands at $92,445, providing a solid economic foundation for the area.
The market rent in this ZIP code is $1,885, which represents approximately 20.4% of the median household income. This percentage suggests that typical rents do not excessively burden local residents, making it feasible for a diverse range of tenants to afford housing without relying heavily on subsidies.
Comparing the market rent to the Fair Market Rent (FMR) set at $1,420 for FY 2024, it's evident that the market rent in ZIP 78418 exceeds the FMR by about $465. This discrepancy means that landlords might face challenges in renting their properties to tenants solely dependent on Section 8 vouchers, as the voucher amount may not cover the full cost of market rent. However, the higher market rent also implies a potential for attracting tenants with additional income sources beyond just the housing voucher.
A landlord in ZIP 78418 can expect a tenant profile that includes a mix of those with some disposable income alongside their voucher support, and others who may be fully reliant on the voucher. The presence of a significant number of renters, combined with the relatively high median income, suggests that there could be a robust demand for rental properties. Landlords should prepare to offer competitive pricing or amenities to attract tenants who have the means to supplement their voucher assistance.
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.