FMR is below market; voucher rent may lag private rents.
0.67
1 BR
1 BR
0.71ratio
FMR$810
Market$1,140
vs market-$330
FMR is below market; voucher rent may lag private rents.
0.71
2 BR
2 BR
0.77ratio
FMR$1,020
Market$1,320
vs market-$300
FMR is below market; voucher rent may lag private rents.
0.77
3 BR
3 BR
0.73ratio
FMR$1,310
Market$1,800
vs market-$490
FMR is below market; voucher rent may lag private rents.
0.73
4 BR
4 BR
0.57ratio
FMR$1,440
Market$2,510
vs market-$1,070
FMR is below market; voucher rent may lag private rents.
0.57
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 78502 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 78502 (McAllen, TX) is $1,020 a month. That is down 3.8% from $1,060 in FY 2026. McAllen is in the McAllen-Edinburg-Mission, TX MSA. 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 $1,017. Among 33 ZIP codes in Hidalgo County, 78502 is tied for the 8th-highest two-bedroom rent (county range $1,010–$1,260). The median county two-bedroom FMR in Texas is $1,105, so ZIP 78502 is 8% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 78502
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$840
$800
−4.8%
$720–$880
1BR
$850
$810
−4.7%
$729–$891
2BR
$1,060
$1,020
−3.8%
$918–$1,122
3BR
$1,380
$1,310
−5.1%
$1,179–$1,441
4BR
$1,520
$1,440
−5.3%
$1,296–$1,584
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 78502
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$800
$810
$1,020
$1,310
$1,440
FY 2026
$840
$850
$1,060
$1,380
$1,520
FY 2025
$790
$800
$990
$1,290
$1,430
FY 2024
$780
$780
$980
$1,280
$1,410
FY 2023
$690
$700
$880
$1,140
$1,260
Two-bedroom rent in nearby Hidalgo County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 78502?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,017, which applies unless the housing authority uses Small Area FMRs, that basic range is $915 to $1,119 a month; under the ZIP-level Small Area FMR of $1,020 it would be $918 to $1,122. 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 78502 in?
ZIP 78502 is in the McAllen-Edinburg-Mission, TX MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,017.
How much did fair market rent change in ZIP 78502 for FY 2027?
The two-bedroom FMR fell 3.8%, from $1,060 in FY 2026 to $1,020 in FY 2027. Since FY 2023 it has risen 15.9%.
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