FIPS 48339 · population 684,432 · part of Houston, TX
The latest county-level Zillow ZORI is $1,733 per month in 2026-06. It is a typical asking-rent index across rental types—not an arithmetic average, signed lease or quote for one property.
| Bedrooms | HUD monthly FMR | Geography | Measurement boundary |
|---|---|---|---|
| Studio | $1,280 | Montgomery County, TX | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 1 bedroom | $1,323 | Montgomery County, TX | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 2 bedrooms | $1,573 | Montgomery County, TX | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 3 bedrooms | $2,116 | Montgomery County, TX | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 4 bedrooms | $2,639 | Montgomery County, TX | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
Zillow asking rent, ACS gross rent and HUD FMR describe different housing universes. They remain separate and no metro, city or neighboring-county value replaces missing county evidence.Zillow pulled 2026-07-26 · HUD pulled 2026-07-26
Everything here joins on the county FIPS code, so each figure comes from the agency that publishes it with no name matching in between.
Zillow estimates a current home value. FHFA tracks repeat mortgage transactions. Their growth rates should be read side by side, not averaged.
Survey source: Census ACS 5-year — county housing value, tenure and stock · ACS 2024 5-year · pulled 2026-07-30. These values describe different housing universes and are not combined into gross yield.
Workplace source: BLS QCEW — county employment and wages · annual county employment and wages 2021-2025; latest 2025 vs 2024 · pulled 2026-08-02. QCEW counts covered jobs located in the county, not employed residents or the metro score’s CES/LAUS series.
BEA per-capita personal income divides all personal income by the county population. It is broader than wages, but it is not household income or a measure of what renters can afford.
HUD CHAS separates renter households by income relative to local HAMFI. Moderate burden means housing costs above 30% through 50% of income; severe burden means more than 50%.
These Apartment List observations match the exact county Census code 48339. They are kept separate from Zillow asking rent, Census occupied-home rent and wider metro measures.
Monthly overall-rent index; missing observations are not filled from another geography.
Montgomery County presents a split screen: cash-flow investigators can test measured rent, but buyers relying on near-term appreciation should be cautious. Zillow’s 2026-06 county median home value was $346,893, alongside $1,733 monthly median asking rent and a published 5.99% gross yield before costs. That value fell 1.35% year over year, while FHFA’s repeat-transaction HPI rose 2.22% in 2025. These are different vintages and methods, not a combined growth rate; FHFA is an appreciation index, not a home value.
Market rent—not HUD’s $1,573 two-bedroom Fair Market Rent—supports the gross-yield measure. FMR is a payment standard, not an asking-rent estimate, and it must not be substituted into yield. The 1.52% effective property-tax rate raises carrying-cost scrutiny against the rent/price relationship. Insurance, maintenance, financing terms, and property-specific assessments are not published, preventing a net-yield or cash-flow conclusion.
Demand and competition warrant a mixed reading. Tax-return migration shows 8,404 more households moved in than out, and average income was higher for inbound movers; this is household-movement evidence rather than a tenant-demand measure. QCEW reports annual covered jobs at county workplaces, not resident employment, unemployment, or a forecast. The published investor measure puts nonoccupant mortgage purchases at 7.84% of 14,930 purchases, making that activity a minority of recorded purchases. Realtor.com’s MLS evidence shows 4,988 active listings, up 2.33%, and 21.42% with price reductions. Active supply and listed seller concessions require property-level competition checks; neither proves closed-sale pricing or buyer demand.
Risk remains location-specific. Inland flood is the named dominant hazard, and modeled climate loss equals 0.13% of building value per year; it is a ratio, not a dollar loss estimate. Missing flood-zone status, prior claims, insurance quotes, building condition, lease performance, and submarket closed-sale comparables prevents a defensible property underwriting conclusion. Next checks are those items alongside tax assessment and listing-specific concessions.
Open a five-digit report for asking rent, affordability, rent history and resale liquidity. Each row keeps its ZIP/ZCTA measurement scope.
| ZIP report | City label | Zillow rent | 1Y change | ACS burden 30%+ | Population |
|---|---|---|---|---|---|
| ZIP 77381 rental reportMontgomery County | Spring, TX | $2,440 | ▲ 3.3% | 49.7% | 36,139 |
| ZIP 77386 rental reportMontgomery County | Spring, TX | $2,058 | ▼ 0.3% | 40.4% | 69,980 |
| ZIP 77380 rental reportMontgomery County | Spring, TX | $1,604 | ▼ 2.3% | 40.4% | 31,369 |
| ZIP 77304 rental reportMontgomery County | Conroe, TX | $1,435 | ▼ 0.8% | 50.8% | 44,225 |
Zillow ZORI is an asking-rent index. ACS burden and population describe the Census ZCTA; missing observations remain n/a.
Census-recognized incorporated places and CDPs that intersect this county. The list does not pretend to include every neighborhood or informal community.
Population is the total place-wide ACS estimate, not an allocated county share. A place crossing a county line is labelled explicitly. Source: Census ACS 5-year — cities and communities · ACS 2024 5-year · pulled 2026-07-30.
0.132% of building value expected lost per year
$5,268 median annual bill
28,186 in · 19,782 out
$91,270 arriving · $86,878 leaving
1,170 of 14,930 mortgages
Listing price is an asking price, not a closed sale. Quality-flagged county rows are withheld instead of displayed.
A metro is an average of these. Which side of a county line a property sits on can change the tax bill, the hazard profile and the tenant pool.
| County | Population | Price | Rent | Yield | Hazard |
|---|---|---|---|---|---|
| Montgomery County | 684,432 | $347k | $1,733 | 6.0% | inland flooding |
| Harris County | 4,838,303 | $282k | $1,600 | 6.8% | inland flooding |
| Fort Bend County | 893,767 | $383k | $1,991 | 6.2% | inland flooding |
| Brazoria County | 391,255 | $330k | $1,732 | 6.3% | inland flooding |
| Galveston County | 358,990 | $321k | $1,586 | 5.9% | inland flooding |
| Liberty County | 103,380 | $240k | $1,566 | 7.8% | inland flooding |
| Waller County | 61,552 | $366k | $2,304 | 7.5% | inland flooding |
| Chambers County | 51,498 | $351k | $2,107 | 7.2% | inland flooding |
| Austin County | 31,170 | $430k | $1,652 | 4.6% | inland flooding |
No. The record publishes gross yield, but not the operating costs, financing terms, insurance, or property-specific assessments needed for net yield.
No. The supplied FMR is a two-bedroom payment standard, while the county rent figure is measured median asking rent.
They provide MLS listing-market evidence on active supply, marketing conditions, and price reductions; they do not establish closed-sale prices or buyer demand by themselves.