Location: Fannin County, TX | Metro: Fannin County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The ZIP code 75447 presents several challenges for potential Section 8 landlords. Firstly, the tenant turnover rate could be higher due to the discrepancy between the market rent and the Fair Market Rent (FMR) of $970 set for FY 2026 in the metro area. This can lead to financial instability if the property's market rent is significantly higher than the FMR, making it difficult to attract tenants willing to pay the lower subsidized amount.
Vacancy exposure is another concern. The days on market (DOM) figure is not available, which means there is uncertainty about how quickly properties can be rented out once they become vacant. In areas where rental demand is strong, this might not be a significant issue, but without specific data, it's prudent to assume that landlords could face periods of vacancy, leading to lost rental income.
Deferred maintenance is also a risk factor. With a typical home value of $372,384 and a median income of $110,391, the financial strain on residents could mean that they are less likely to invest in costly repairs or upgrades. This places the burden on landlords to maintain properties at a high standard, which can be financially demanding.
However, these risks must be weighed against the 0.9% renter share, which indicates a high concentration of renters in the area. High renter density generally correlates with higher demand for housing vouchers, potentially stabilizing the rental market and ensuring a steady stream of qualified tenants. Despite the challenges, the presence of a large number of potential voucher holders can mitigate some of the risks associated with tenant turnover and vacancy.
In conclusion, the overall risk for a first-time Section 8 landlord in ZIP code 75447 is moderate.
Data Sources: FMR data from HUD (2027). 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.