Location: Brownsville-Harlingen, TX | Metro: Brownsville-Harlingen, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
910 FMR (zip FY 2024) indicates the Fair Market Rent set for ZIP code 78578, Port Isabel, TX, which stands as a benchmark for rental properties eligible under the Section 8 program. 749 market rent (Census ACS) reflects the actual average rent paid by tenants in the area, underscoring a significant gap between the two figures. This disparity means landlords participating in Section 8 can potentially receive higher rents compared to the local market. The median home value of 262,834 suggests a relatively stable housing market, although it does not directly impact rental investments. With a 25.4% renter share, the population leans towards renting, making rental properties a viable investment option. However, the median income of 51,880 might limit the pool of potential tenants who qualify for Section 8 assistance. Despite the lack of available data on days on market (DOM), the 0.2% price-cut share reveals that few properties are being discounted, indicating a strong demand for rentals without significant price adjustments.
The combination of a favorable FMR relative to the market rent and a notable renter share makes ZIP code 78578 an attractive location for Section 8 investments. Landlords can benefit from guaranteed rental payments through the voucher program, which often exceed the current market rates. Additionally, the low price-cut share suggests a competitive market where maintaining rental rates is feasible. Although the median income is modest, it aligns well with the income levels of those likely to seek Section 8 assistance. Therefore, the verdict for Section 8 investments in Port Isabel, TX, is positive, given the potential for stable cash flow and minimal risk of vacancy.
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.