Location: Panola County, TX | Metro: Harrison County, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The ZIP code 75639 is primarily a homeowner-dominated area, with only 10.3% of the population being renters. This indicates that the demand for rental properties, including those supported by Section 8 vouchers, is relatively low compared to areas with higher percentages of renters. The median household income in this ZIP is $49,344, which provides a baseline for assessing the affordability of housing.
Although specific market rent figures are not provided, we can compare the median income to the Fair Market Rent (FMR) of $1,100 for FY 2024. Assuming a typical renter spends around 30% of their income on housing, a household earning the median income would afford approximately $1,233 per month in rent. This means that the FMR is slightly below the average renter's budget, suggesting that the rental market is moderately affordable for those receiving vouchers.
To further analyze the impact of income levels on rent affordability, let's consider the proportion of income spent on rent. If we assume an average market rent similar to the FMR, then the typical rent would consume about 22.3% of the median income. This is well within the 30% threshold generally considered affordable, indicating that Section 8 vouchers can effectively cover the cost of renting in this area.
A landlord in ZIP 75639 should expect tenants who are likely to be financially constrained but still capable of affording the rent with government assistance. These tenants will predominantly rely on Section 8 vouchers to meet their housing needs. Given the homeowner-dominated nature of the ZIP, competition for rental units among voucher holders may be high, leading to a steady demand for affordable rental properties.
In conclusion, while ZIP 75639 is not heavily populated by renters, it offers a viable market for Section 8 tenants due to the affordability of rents relative to the median income. Landlords should prepare for a tenant base that includes individuals and families requiring government subsidies to cover their housing costs.
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.