Location: Starr County, TX | Metro: Starr County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The ZIP code 78547 presents a unique challenge when analyzing affordability for renters, given the lack of specific data on median income and market rent rates. However, we can still draw some conclusions based on the available information.
Affordability hinges on the comparison between the renter's income and the cost of housing. In this case, while the median income is not provided, it's clear that the Federal Market Rent (FMR) of $980 for the metro area in fiscal year 2026 sets a benchmark for affordable housing. This figure represents the maximum amount a household receiving a housing voucher would pay for rent, assuming they contribute 30% of their adjusted income.
With 30.9% of the 306 residents being renters, the competition among landlords is likely to be moderate but significant. The scarcity of detailed income data means that landlords must rely on local knowledge and trends to gauge the actual affordability gap. If the market rate rent significantly exceeds $980, the affordability gap widens, making it harder for voucher holders to find suitable housing and increasing the demand for properties that accept vouchers.
The takeaway for landlords considering voucher versus cash-pay strategies is that accepting vouchers can stabilize occupancy and provide a steady income source, albeit at a fixed rate. If the local market rate rent is higher than the FMR, landlords might find themselves with fewer cash-paying tenants who can afford the rent, thus making voucher tenants a more reliable option. However, landlords should also consider the administrative aspects and potential delays associated with voucher programs.
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.