Location: Lamar County, TX | Metro: Lamar County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
16.2% of the residents in ZIP code 75477 are renters, indicating a significant portion of the population relies on rental housing. With a Fair Market Rent (FMR) set at $970 for the metro area in fiscal year 2026, landlords can expect to receive this amount per unit as reimbursement through the Section 8 program. The Census ACS reports a market rent of $985, suggesting that the actual rents charged slightly exceed the FMR, which is favorable for landlords participating in Section 8. The median home value in this area is $170,770, providing a baseline for property values and potentially influencing rental rates. Landlords should also note that the median income of $90,469 can affect the eligibility of tenants for the Section 8 program. Although the data does not specify the days on market (DOM) or the percentage of price-cut share, these figures are typically indicative of the local real estate market's competitiveness and the ease of finding tenants. Given the available data, it is evident that ZIP 75477 offers a stable environment for landlords and small-portfolio investors interested in the Section 8 program.
The slight premium of market rent over the FMR ensures landlords are compensated adequately for their properties, while the median home value indicates reasonable property appreciation potential. The median income figure suggests a moderate level of tenant income, balancing the risk of default against the accessibility of the program. Despite the lack of specific DOM and price-cut share percentages, the overall economic indicators point towards a viable investment opportunity. For those considering participation in the Section 8 program, ZIP 75477 presents a solid foundation for rental investments, with competitive market conditions and a steady demand for subsidized housing.
Based on the provided data, the Section 8 verdict for ZIP 75477 is positive, offering a stable and financially sound investment option for landlords and small-portfolio investors.
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.