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 Fair Market Rent (FMR) for ZIP 78480 in fiscal year 2024 is set at $1350. This figure is critical for determining the potential yield of rental properties in this area. However, the lack of specific market rent and home value data complicates a direct comparison. Given that FMR is often lower than market rents, especially in areas with significant demand, it suggests that 78480 could offer a high-yield opportunity if market rents exceed the FMR significantly.
Regarding stability, the data is sparse. The median household income is listed as $0, which indicates incomplete data. Additionally, there is no information on the percentage of renters, days on market (DOM), or other income metrics. Without these details, it's challenging to assess the overall financial stability of the area. However, the presence of 14 business establishments employing about 32 people with an annual payroll of $1,839,000 suggests some local economic activity, though the scale is relatively small.
To classify ZIP 78480, we must rely heavily on the FMR figure. With an FMR of $1350, the area leans towards a high-yield investment opportunity, assuming that market rents are higher. However, the lack of data on rental vacancy rates and the percentage of renters makes it difficult to gauge stability accurately. If the rental vacancy rate were high, it would indicate low stability, suggesting a flip-style market where quick turnover is key. Conversely, if the vacancy rate were low, it would imply a steady cash flow zone.
In conclusion, ZIP 78480 appears to be a high-yield market due to the FMR of $1350, but its stability cannot be determined conclusively without additional data on rental vacancy rates and local economic indicators. Landlords and small-portfolio investors should proceed with caution, focusing on thorough market research before making any investment decisions.
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.