FMR is near market; voucher and private rents are aligned.
0.96
3 BR
3 BR
1.24ratio
FMR$2,560
Market$2,060
vs market+$500
FMR is above market; underwrite to market rent.
1.24
4 BR
4 BR
1.28ratio
FMR$3,180
Market$2,490
vs market+$690
FMR is above market; underwrite to market rent.
1.28
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
--
Mortgage rate
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ZIP 77487 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 77487 (Sugar Land, TX) is $1,900 a month. That is down 5.0% from $2,000 in FY 2026. Sugar Land 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 39 ZIP codes in Fort Bend County, 77487 is tied for the 11th-highest two-bedroom rent (county range $1,010–$2,250). The median county two-bedroom FMR in Texas is $1,105, so ZIP 77487 is 72% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 77487
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,630
$1,560
−4.3%
$1,404–$1,716
1BR
$1,680
$1,600
−4.8%
$1,440–$1,760
2BR
$2,000
$1,900
−5.0%
$1,710–$2,090
3BR
$2,690
$2,560
−4.8%
$2,304–$2,816
4BR
$3,360
$3,180
−5.4%
$2,862–$3,498
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 77487
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,560
$1,600
$1,900
$2,560
$3,180
FY 2026
$1,630
$1,680
$2,000
$2,690
$3,360
FY 2025
$1,570
$1,640
$1,960
$2,610
$3,290
FY 2024
$1,380
$1,450
$1,740
$2,300
$2,950
FY 2023
$1,320
$1,410
$1,680
$2,210
$2,860
Two-bedroom rent in nearby Fort Bend County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 77487?
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 $1,900 it would be $1,710 to $2,090. 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 77487 in?
ZIP 77487 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 77487 for FY 2027?
The two-bedroom FMR fell 5.0%, from $2,000 in FY 2026 to $1,900 in FY 2027. Since FY 2023 it has risen 13.1%.
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