Location: Shelby County, TX | Metro: Panola County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The ZIP code 75974 presents a dynamic rental market, influenced significantly by the Federal Market Rent (FMR) and actual market conditions. With an FMR of $970 for the fiscal year 2026, it's evident that the government benchmark for affordable housing is set higher than the current market rent, which stands at $642 according to the latest Census American Community Survey (ACS).
This disparity between FMR and market rent suggests that the rental market in ZIP 75974 might be experiencing a situation where demand is not fully meeting the supply at the higher FMR level. Landlords and investors should take note of this trend, as it indicates potential flexibility in pricing strategies to attract tenants.
The median home value of $228,438 provides a baseline for property values in the area, but without specific data on price-cut shares or days on market (DOM), we cannot conclusively state whether the supply outpaces demand or vice versa. However, the 30.3% share of renters in the population offers insight into the long-term housing pressures. A significant portion of residents choosing to rent over buying signals sustained interest in rental properties, likely due to affordability concerns or lifestyle preferences.
This high percentage of renters can imply ongoing demand for rental units, which could support steady occupancy rates and potentially stable rental income for landlords. It also means that a considerable number of residents are sensitive to changes in housing costs, which landlords must consider when setting rents.
In summary, ZIP 75974 appears to be a market where rental demand is strong enough to maintain a robust presence despite being below the FMR. The high renter share points to a community where renting is a preferred or necessary housing option, suggesting a resilient rental market that landlords and small-portfolio investors can leverage effectively.
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.