Location: Shelby County, TX | Metro: Panola County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
In ZIP code 75643, the Fair Market Rent (FMR) for fiscal year 2026 is set at $980, while the current market rent based on Census ACS data stands at $879. This indicates a gap of $101, which translates to approximately 11.5% when measured against the market rent.
The FMR being higher than the market rent makes ZIP 75643 a favorable area for landlords who wish to participate in the Section 8 program. Voucher tenants can provide a steady and reliable income stream, especially given the local context where only 17.4% of residents are renters. Additionally, the median home value in this ZIP code is $203,711, indicating a relatively stable housing market. With a median household income of $59,342, there is a significant portion of the population that could benefit from the lower rent offered by voucher holders, making it a viable option for landlords seeking to attract consistent tenants.
Landlords should note that although the FMR provides a higher rate than the current market rent, they must still maintain properties to meet HUD standards. This ensures that the housing is decent, safe, and sanitary, which might incur additional costs. However, the gap between FMR and market rent suggests that landlords can potentially achieve higher yields compared to other areas where the FMR is closer to or below the market rent.
To summarize, the gap between the FMR and market rent in ZIP 75643 positions voucher tenants as a valuable asset for landlords aiming to maximize their rental income. Given the economic conditions and the relatively low proportion of renters, participating in the Section 8 program can be a strategic move to ensure occupancy and financial stability.
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.