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 potential risks associated with investing in Section 8 properties in ZIP code 75660 in Unknown, TX, must be carefully considered. Tenant turnover can be a significant issue, especially when comparing the market rent to the $1100 Fair Market Rent (FMR) for fiscal year 2024. Without specific data on market rent, it's crucial to note that if the market rent exceeds the FMR, landlords might face higher turnover rates as tenants seek more affordable options.
Vacancy exposure is another concern. The lack of data on days on market (DOM) indicates an uncertainty regarding how quickly properties can be rented out. A longer DOM period increases the risk of vacancy, leading to lost rental income and increased maintenance costs. Landlords should prepare for potential delays in filling vacancies due to the limited information available.
Deferred maintenance is also a risk factor. With no typical home value or median income figures provided, it's challenging to assess the financial health of local homeowners and their ability to maintain properties. This uncertainty can lead to higher maintenance costs for landlords, especially if they inherit properties in need of significant repairs. It's essential to budget for these unforeseen expenses.
However, these risks must be weighed against the high concentration of renters in the area. Although the exact percentage of the renter share is not specified, a high proportion of renters typically translates into a robust demand for housing vouchers. This demand can stabilize occupancy rates and provide a steady stream of income, even if it's at a fixed rate determined by the FMR.
Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 75660, Unknown, TX. The unknowns regarding market rent, DOM, and deferred maintenance present challenges, but the potential for consistent demand from renters mitigates some of these concerns.
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.