Location: Longview, TX | Metro: Longview, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
The analysis of ZIP code 75607 in Longview, TX, reveals several key points for potential Section 8 landlords and small-portfolio investors.
The rent math does not work effectively due to insufficient data. The Fair Market Rent (FMR) for the area is set at $1100 for zip FY 2024, but without comparative market rent figures, it's challenging to assess the viability of this rate. Landlords should seek additional local insights to confirm if this FMR aligns with what tenants can afford.
Regarding property acquisition, affordability remains unclear due to missing data on median home values, days on market (DOM), and the percentage of homes requiring price cuts. These metrics are crucial for understanding the local real estate market and making informed investment decisions. Without them, it's difficult to advise on the cost-effectiveness of acquiring properties in this area.
Tenant demand in ZIP 75607 is also uncertain because the necessary demographic data—population size and the percentage of renters—is not available. Such information would be vital for gauging the number of potential Section 8 tenants and the overall competition for rental properties.
Verdict: While the Fair Market Rent provides a baseline for rental income, the lack of specific market data hinders a comprehensive analysis of ZIP 75607. Landlords and investors must gather additional local information to accurately evaluate the financial feasibility of Section 8 properties and the presence of sufficient tenant demand. Until these gaps are filled, the decision to invest should be approached cautiously.
Data Sources: FMR data from HUD (2027).
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.