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Hidalgo County/McAllen/78504

78504

ZIPSAFMR
Hidalgo County, TX
Zillow

ZIP Investment Score

80Below average

095130300
BRFMR
Eff. Rent
0 BR$990$1,090
1 BR$1,000$1,100
2 BR$1,260$1,380
3 BR$1,620$1,720
4 BR$1,780$1,960
5 BR$2,047Not available
6 BR$2,354Not available
7 BR$2,707Not available
8 BR$3,113Not available

Purchase Price Calculator

Maximum purchase price
$143,151

Cost breakdown

+Likely effective rent$1,380
HUD FMR$1,260
Market rent$1,440
Est. payment standard (109%)Used$1,380
-Principal and interest-$724
Loan amount$114,521
Down payment$28,630
Rate6.50%
Term30 years
-Operating costs-$456
Property taxes-$143
Insurance-$175
Utilities$0
HOA$0
Management-$138
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,310(77.9% ROI)
Projected value
$154,158
Return breakdown
Property appreciation+$11,007
Loan principal paid down+$4,103
Rental cash flow+$7,200
5-year hold
+$38,128(133.2% ROI)
Projected value
$161,962
Return breakdown
Property appreciation+$18,811
Loan principal paid down+$7,317
Rental cash flow+$12,000
10-year hold
+$81,529(284.8% ROI)
Projected value
$183,245
Return breakdown
Property appreciation+$40,094
Loan principal paid down+$17,434
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.81
1 BR
0.83
2 BR
0.88
3 BR
0.92
4 BR
0.86
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 78504 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 78504 (McAllen, TX) is $1,260 a month. That is down 4.5% from $1,320 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, 78504 has the highest two-bedroom rent (county range $1,010–$1,260). The median county two-bedroom FMR in Texas is $1,105, so ZIP 78504 is 14% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 78504
BedroomsFY 2027Change90–110% range
Studio$990−5.7%$891–$1,089
1BR$1,000−4.8%$900–$1,100
2BR$1,260−4.5%$1,134–$1,386
3BR$1,620−5.3%$1,458–$1,782
4BR$1,780−6.3%$1,602–$1,958

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 78504
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$990$1,000$1,260$1,620$1,780
FY 2026$1,050$1,050$1,320$1,710$1,900
FY 2025$970$970$1,210$1,570$1,740
FY 2024$890$900$1,120$1,460$1,620
FY 2023$810$810$1,030$1,340$1,480

Two-bedroom rent in nearby Hidalgo County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 78504
78501$1,100−12.7%
78502$1,020−19.0%
78503$1,180−6.3%
78504Current$1,260—
78505$1,020−19.0%
78516$1,010−19.8%
78537$1,010−19.8%
78538$1,010−19.8%
78539$1,120−11.1%
78540$1,020−19.0%
78541$1,010−19.8%
78542$1,010−19.8%

Questions about ZIP 78504 rents

How much will Section 8 pay for a two-bedroom in ZIP 78504?

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 $1,260 it would be $1,134 to $1,386. 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 78504 in?

ZIP 78504 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 78504 for FY 2027?

The two-bedroom FMR fell 4.5%, from $1,320 in FY 2026 to $1,260 in FY 2027. Since FY 2023 it has risen 22.3%.

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