Location: Panola County, TX | Metro: Harrison County, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
U.S. Census Bureau data (2024)
The median income in ZIP code 75692 stands at $63,904, which places significant constraints on the average household's ability to pay market-rate rents. At a market rate of $928 per month, as reported by the Census ACS, many residents would struggle to meet this expense comfortably, especially when considering other essential living costs.
Comparatively, the Fair Market Rent (FMR) payment standard set at $1430 for the fiscal year 2024 represents a much higher benchmark. This discrepancy highlights an affordability gap where the market rate is lower but still challenging for some residents, while the voucher rate is significantly above the market rate, potentially offering a more lucrative option for landlords.
With only 11.4% of the population renting and a total population of 5,563, competition among landlords in this area could be relatively low. However, the limited rental pool means that attracting and retaining tenants might require strategic adjustments in pricing and amenities.
The takeaway for landlords considering voucher versus cash-pay strategies is clear: voucher payments at $1430 can provide a stable and higher income stream compared to the market rate of $928. While cash-paying tenants might be more numerous, the financial security and higher rates offered by vouchers can be particularly attractive in a competitive environment with a smaller rental market.
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.