Location: Hill County, TX | Metro: Dallas, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
U.S. Census Bureau data (2024)
The ZIP code 76055, with a population of 3,577, has 17.8% of its residents classified as renters. This indicates that it is not a renter-heavy area but rather a community where homeownership is more prevalent. The median household income stands at $80,025, which provides a baseline for understanding the economic conditions of the area.
The market rent in this ZIP code is $745, which represents a significant portion of the average income. Specifically, the typical rent consumes approximately 9.3% of the median household income. This calculation is derived from dividing the monthly rent by the annual income ($745 / $80,025 * 12 = 0.093 or 9.3%). However, when comparing the market rent to the Fair Market Rent (FMR) of $1610, set for FY 2024, it becomes evident that the current market rent is well below the FMR threshold, indicating potential for higher rents without exceeding affordability standards.
Given the income levels and the current market rent, landlords in ZIP 76055 can expect tenants who are likely to be financially stable and capable of paying rent that is closer to the FMR without relying heavily on Section 8 housing vouchers. The scarcity of vouchers in this area suggests that tenants will either have sufficient personal funds or seek out other forms of assistance to cover their housing costs.
To summarize, ZIP 76055 is primarily a homeowner-dominated area with limited voucher demand. Landlords should anticipate tenants who are economically secure and able to afford rents that align more closely with the FMR of $1610. These tenants will likely be seeking quality housing options that offer value for their investment, whether through direct payment or alternative financial arrangements.
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.