Location: Corpus Christi, TX | Metro: Corpus Christi, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
The analysis of ZIP code 78467 in Corpus Christi, TX, reveals several key points regarding its viability for Section 8 real estate investment.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1350. However, due to the lack of specific market rent data, it's challenging to directly compare these figures. This uncertainty suggests that landlords should be cautious about relying solely on FMR to determine profitability.
Regarding the affordability of acquisitions, the data is insufficient, with no median home values provided. Similarly, the absence of days on market (DOM) and percentage of price cuts makes it difficult to assess how quickly homes sell and at what price point. Landlords looking to acquire properties in this area will need to conduct thorough local market research to understand pricing dynamics and sale timelines.
The third consideration is tenant demand. Again, without specific population and renter share percentages, it's hard to quantify the potential pool of tenants. Section 8 eligibility is tied to income levels, so knowing the number of residents who might qualify for assistance is crucial. Investors should look into local demographics to gauge the likelihood of finding qualified tenants.
Verdict: ZIP code 78467 presents an intriguing opportunity for Section 8 investments, given the established FMR of $1350. However, the lack of detailed market data—such as median home values, days on market, price cut percentages, population figures, and renter share—limits the ability to make informed decisions. Investors must perform additional research to confirm the financial feasibility and tenant demand before committing to property purchases in this area.
Data Sources: FMR data from HUD (2027).
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.