Location: Morris County, TX | Metro: Cass County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,380 |
| 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)
970 FMR (metro FY 2026) sets a clear benchmark for rental properties in ZIP code 75638, indicating that units priced at or below this figure will be highly competitive. 955 market rent (Census ACS) suggests that the current average rent is slightly below the FMR, giving landlords a strategic edge if they can offer quality units just under this threshold. 168,175 median home value highlights the overall property value in the area, which is relatively stable and provides a solid foundation for investment. 25.0% renter share indicates that a quarter of the households in this ZIP code are renters, a significant portion that landlords should target effectively. 66,579 median income signals the economic strength of the area, though it's important to note that this may not directly correlate with individual tenant affordability. The N/A-day DOM (Days on Market) implies that properties in this area either sell quickly or there isn't sufficient data to determine the average time a property remains unsold, which could be an advantage for landlords looking to avoid lengthy vacancy periods. 0.2% price-cut share shows that very few listings need to reduce their prices, suggesting strong demand and minimal competition among sellers, which translates well for rental markets as well.
The combination of these factors—competitive rents, stable home values, and a substantial renter population—makes ZIP 75638 a promising area for Section 8 investments. Landlords can leverage the slightly lower market rent compared to the FMR to attract tenants while ensuring profitability. The robust median income supports the likelihood of timely payments, reducing risk. Given the low percentage of price cuts needed for sales, it's reasonable to infer that rental units in this ZIP code also maintain their value without frequent concessions. In conclusion, the data points to a favorable environment for Section 8 participation, with strong potential for both occupancy and financial stability.
Section 8 Verdict: Favorable for investment.
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.