Location: Red River County, TX | Metro: Texarkana, TX-Texarkana, AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
The market in ZIP code 75554 presents a dynamic equilibrium between rental and homeownership options. With a Fair Market Rent (FMR) of $910 for the fiscal year 2024, it's clear that the rental market is pricing itself higher than the current market rent, which stands at $738 based on Census ACS data. This discrepancy suggests that landlords have an opportunity to increase rents slightly without deterring potential tenants.
The median home value in ZIP 75554 is $213,882. Given the lack of specific data on price-cut share and days on market (DOM), we can infer that the housing market is stable, with neither an overwhelming surplus nor shortage of homes. However, the 14.7% renter share indicates a significant portion of the population prefers renting over owning. This preference for renting could be due to various factors including affordability, mobility, or lifestyle choices.
A lower renter share often correlates with less immediate pressure on rental prices, but it also implies long-term housing stability. Tenants in ZIP 75554 may be more inclined to stay in rental properties for extended periods, rather than moving frequently. This suggests a steady demand for rental units, which can benefit landlords looking for consistent income streams.
The FMR being higher than the market rent signals that there is room for landlords to adjust their rental rates upward. However, the relatively low renter share means that while demand exists, it might not be strong enough to push up rents significantly beyond the current levels. Landlords should be cautious and consider the broader economic context and tenant preferences when setting rental prices.
In summary, ZIP 75554 is a market where rental demand is present but not excessive. The current dynamics favor a balanced approach to pricing and property management, ensuring that landlords can maintain occupancy rates while also achieving reasonable returns on their investments. Small-portfolio investors would find this area conducive to steady growth, given the moderate rental market pressures and stable home values.
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.