Location: Red River County, TX | Metro: Lamar County, TX
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,330 | $262,194 | 0.51% | F |
U.S. Census Bureau data (2024)
The ZIP code 75416 has a population of 2,873 residents, with 20.1% being renters. This indicates that the area is not heavily dominated by renters; rather, it is more of a homeowner-dominated region. The median household income in this ZIP is $75,735, which provides a context for understanding the financial capabilities of potential tenants.
A typical market rent of $920 is observed in this area. To understand how this rent compares to the local income, we can calculate that the average rent consumes approximately 12% of the median household income. This calculation is derived from dividing the typical market rent ($920) by the median household income ($75,735), multiplied by 100 to get the percentage. This figure suggests that the rent is relatively affordable for most residents.
The Fair Market Rent (FMR) for the ZIP code 75416 is set at $980 for fiscal year 2026, based on the metropolitan area standards. This means that the actual market rent ($920) is slightly below the FMR, indicating that landlords might find it easier to attract tenants who rely on housing vouchers.
In terms of tenant profiles, landlords in ZIP 75416 should expect a mix of individuals and families who are likely to have some form of stable income but may also require assistance through housing vouchers. Given the median income and the typical market rent, these tenants would be able to afford the rent without it being an overwhelming expense.
To conclude, while ZIP 75416 is not a renter-heavy area, it still presents opportunities for landlords with properties that can cater to those seeking housing assistance. The income levels suggest that typical rents do not consume an excessive portion of the median income, making it feasible for many to pay rent even if they are receiving some form of subsidy.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.