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Nueces County/Corpus Christi/78402

78402

ZIPSAFMR
Nueces County, TX
Zillow

ZIP Investment Score

85Below average

095130300
BRFMR
Eff. Rent
0 BR$1,080$810
1 BR$1,200$920
2 BR$1,440$1,410
3 BR$1,890$1,830
4 BR$2,120$1,580
5 BR$2,438Not available
6 BR$2,804Not available
7 BR$3,224Not available
8 BR$3,708Not available

Purchase Price Calculator

Maximum purchase price
$147,609

Cost breakdown

+Likely effective rent$1,410
HUD FMR$1,440
Market rentUsed$1,410
Est. payment standard (99%)$1,420
-Principal and interest-$746
Loan amount$118,087
Down payment$29,522
Rate6.50%
Term30 years
-Operating costs-$464
Property taxes-$148
Insurance-$175
Utilities$0
HOA$0
Management-$141
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,781(77.2% ROI)
Projected value
$158,959
Return breakdown
Property appreciation+$11,350
Loan principal paid down+$4,231
Rental cash flow+$7,200
5-year hold
+$38,942(131.9% ROI)
Projected value
$167,006
Return breakdown
Property appreciation+$19,397
Loan principal paid down+$7,545
Rental cash flow+$12,000
10-year hold
+$83,320(282.2% ROI)
Projected value
$188,952
Return breakdown
Property appreciation+$41,343
Loan principal paid down+$17,977
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.33
1 BR
1.30
2 BR
1.02
3 BR
1.03
4 BR
1.34
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 78402 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 78402 (Corpus Christi, TX) is $1,440 a month. That is up 2.1% from $1,410 in FY 2026. Corpus Christi is in the Corpus Christi, 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 $1,421. Among 40 ZIP codes in Nueces County, 78402 is tied for the 8th-highest two-bedroom rent (county range $1,230–$2,130). The median county two-bedroom FMR in Texas is $1,105, so ZIP 78402 is 30% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 78402
BedroomsFY 2027Change90–110% range
Studio$1,080+0.9%$972–$1,188
1BR$1,200+3.4%$1,080–$1,320
2BR$1,440+2.1%$1,296–$1,584
3BR$1,890+1.6%$1,701–$2,079
4BR$2,120−0.5%$1,908–$2,332

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 78402
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,080$1,200$1,440$1,890$2,120
FY 2026$1,070$1,160$1,410$1,860$2,130
FY 2025$1,140$1,220$1,500$1,970$2,300
FY 2024$1,090$1,170$1,430$1,860$2,180
FY 2023$1,000$1,090$1,330$1,740$2,030

Two-bedroom rent in nearby Nueces County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 78402
78401$1,230−14.6%
78402Current$1,440—
78403$1,420−1.4%
78404$1,360−5.6%
78405$1,230−14.6%
78406$1,890+31.3%
78407$1,230−14.6%
78408$1,230−14.6%
78409$1,230−14.6%
78410$1,360−5.6%
78411$1,340−6.9%
78412$1,650+14.6%

Questions about ZIP 78402 rents

How much will Section 8 pay for a two-bedroom in ZIP 78402?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,421, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,279 to $1,563 a month; under the ZIP-level Small Area FMR of $1,440 it would be $1,296 to $1,584. 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 78402 in?

ZIP 78402 is in the Corpus Christi, TX HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,421.

How much did fair market rent change in ZIP 78402 for FY 2027?

The two-bedroom FMR rose 2.1%, from $1,410 in FY 2026 to $1,440 in FY 2027. Since FY 2023 it has risen 8.3%.

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 rentCorpus Christi, TX fair market rentTX statewide rentsWhat is SAFMR?Data sources