Location: Panola County, TX | Metro: Panola County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 75631, as determined by the U.S. Department of Housing and Urban Development for fiscal year 2026, is set at $1,060. This figure represents the payment standard for Section 8 housing vouchers in the area, meaning it's the maximum amount the government will pay towards a tenant's rent. However, this does not necessarily reflect the actual rent you can charge.
According to the Census Bureau's American Community Survey, the average rent in ZIP 75631 is currently $938. This is lower than the FMR, indicating that landlords participating in the Section 8 program could potentially receive a higher payment than the typical market rate for similar properties.
The demand for rentals in this area is strong, with 20.4% of residents being renters. This suggests there is a healthy pool of potential tenants who might benefit from Section 8 vouchers, making your property attractive to those seeking affordable housing options.
If you're considering purchasing a property in ZIP 75631 for your first Section 8 rental, the median home value is approximately $214,680. This gives you an idea of the acquisition cost for a typical home in the area. It's important to note that the actual cost of a property can vary widely based on condition, size, and other factors, but this figure provides a useful starting point for budgeting.
Before you proceed with a Section 8 rental in ZIP 75631, ensure that the property meets all the necessary inspection criteria. The HUD requires that homes leased under the Section 8 program meet certain standards of habitability, which are outlined in the Housing Quality Standards (HQS) checklist. Passing this inspection is critical to receiving approval for participation in the program.
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.