Location: Cherokee County, TX | Metro: Cherokee County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The ZIP code 75764 is characterized by a substantial rental market, with 36.2% of its population being renters. This indicates a significant portion of residents who rely on rental housing, creating a robust demand for Section 8 vouchers. Given the median household income of $77,614, it's essential to understand how this compares to the typical market rent and the Fair Market Rent (FMR).
The FMR for the metro area, set at $970 for fiscal year 2026, serves as a benchmark for evaluating the affordability of rental housing. However, without specific data on the market rent for ZIP 75764, we can infer that the actual market rent might be slightly higher due to the typical premium placed on metro areas. Assuming a market rent close to the FMR, let's calculate the percentage of income that goes toward rent. If we use the FMR as an approximation, then a tenant paying $970 would be spending roughly 12.5% of their annual income on rent.
This percentage is relatively low compared to general guidelines suggesting that rent should not exceed 30% of a household's income. However, it's important to note that the presence of Section 8 vouchers can significantly reduce the financial burden on tenants, making housing more affordable. In ZIP 75764, landlords can expect a mix of tenants who are fully subsidized by the Section 8 program and those who may receive partial assistance.
The tenant profile in this ZIP code will likely include individuals and families who benefit from the Section 8 program to secure affordable housing. Landlords should anticipate tenants who are conscientious about maintaining their eligibility for the voucher, which often involves regular reporting of income and other financial details. Additionally, the high proportion of renters suggests a dynamic and diverse community, with a strong likelihood of ongoing demand for rental properties.
To summarize, ZIP 75764 presents a favorable environment for landlords interested in attracting Section 8 tenants. With nearly a third of the population renting, there is a clear need for affordable housing options. The median income supports a manageable rent-to-income ratio when considering the FMR, indicating that rental housing remains accessible even with the economic constraints faced by many tenants.
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.