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Harris County/Spring/77388

77388

ZIPSAFMR
Harris County, TX
Zillow

ZIP Investment Score

85Below average

095130300
BRFMR
Eff. Rent
0 BR$1,610$1,330
1 BR$1,650$1,470
2 BR$1,960$1,790
3 BR$2,640$1,920
4 BR$3,280$2,410
5 BR$3,772Not available
6 BR$4,338Not available
7 BR$4,988Not available
8 BR$5,737Not available

Purchase Price Calculator

Maximum purchase price
$204,077

Cost breakdown

+Likely effective rent$1,790
HUD FMR$1,960
Market rentUsed$1,790
Est. payment standard (94%)$1,850
-Principal and interest-$1,032
Loan amount$163,261
Down payment$40,815
Rate6.50%
Term30 years
-Operating costs-$558
Property taxes-$204
Insurance-$175
Utilities$0
HOA$0
Management-$179
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,741(70.4% ROI)
Projected value
$219,768
Return breakdown
Property appreciation+$15,692
Loan principal paid down+$5,849
Rental cash flow+$7,200
5-year hold
+$49,248(120.7% ROI)
Projected value
$230,894
Return breakdown
Property appreciation+$26,817
Loan principal paid down+$10,431
Rental cash flow+$12,000
10-year hold
+$106,013(259.7% ROI)
Projected value
$261,236
Return breakdown
Property appreciation+$57,159
Loan principal paid down+$24,855
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.21
1 BR
1.12
2 BR
1.09
3 BR
1.38
4 BR
1.36
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 77388 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 77388 (Spring, TX) is $1,960 a month. That is down 6.7% from $2,100 in FY 2026. Spring is in the Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,497. Among 229 ZIP codes in Harris County, 77388 has the 17th-highest two-bedroom rent (county range $1,020–$2,250). The median county two-bedroom FMR in Texas is $1,105, so ZIP 77388 is 77% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 77388
BedroomsFY 2027Change90–110% range
Studio$1,610−5.8%$1,449–$1,771
1BR$1,650−6.8%$1,485–$1,815
2BR$1,960−6.7%$1,764–$2,156
3BR$2,640−6.7%$2,376–$2,904
4BR$3,280−6.8%$2,952–$3,608

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 77388
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,610$1,650$1,960$2,640$3,280
FY 2026$1,710$1,770$2,100$2,830$3,520
FY 2025$1,680$1,750$2,090$2,790$3,510
FY 2024$1,490$1,580$1,890$2,500$3,210
FY 2023$1,470$1,570$1,870$2,460$3,180

Two-bedroom rent in nearby Harris County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 77388
77373$1,800−8.2%
77375$1,690−13.8%
77377$1,790−8.7%
77379$1,760−10.2%
77383$1,470−25.0%
77388Current$1,960—
77389$1,940−1.0%
77391$1,470−25.0%
77396$1,590−18.9%
77401$2,250+14.8%
77402$1,470−25.0%
77410$1,470−25.0%

Questions about ZIP 77388 rents

How much will Section 8 pay for a two-bedroom in ZIP 77388?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,497, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,347 to $1,647 a month; under the ZIP-level Small Area FMR of $1,960 it would be $1,764 to $2,156. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 77388 in?

ZIP 77388 is in the Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,497.

How much did fair market rent change in ZIP 77388 for FY 2027?

The two-bedroom FMR fell 6.7%, from $2,100 in FY 2026 to $1,960 in FY 2027. Since FY 2023 it has risen 4.8%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentSpring, TX fair market rentTX statewide rentsWhat is SAFMR?Data sources