Location: Montague County, TX | Metro: Wise County, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
U.S. Census Bureau data (2024)
1110 is the Fair Market Rent (FMR) for ZIP code 76270 for fiscal year 2024, setting a clear benchmark for rental properties in the area. 486,532 represents the median home value, indicating that homeownership is relatively affordable compared to other markets. 2.6% is the share of renters in this ZIP code, suggesting a smaller but still significant demand for rental units. 73,553 is the median income, which is crucial for understanding the financial capacity of potential tenants. Despite these figures, N/A signifies the lack of available data on market rent and days on market (DOM), implying that there might be limited activity or reporting in these categories. Similarly, the N/A percentage for price-cut share indicates that there isn't much fluctuation in property values due to price reductions, which can be seen as a sign of stability in the housing market. For landlords and small-portfolio investors looking to understand the viability of Section 8 housing in ZIP 76270, the 1110 FMR provides a solid basis for pricing their units competitively while ensuring compliance with HUD guidelines.
The median income of 73,553 suggests that tenants participating in the Section 8 program will likely have sufficient resources to cover their portion of the rent, reducing the risk of non-payment. However, the low renter share of 2.6% means that landlords should be prepared for a potentially smaller pool of Section 8 tenants, which could affect the speed at which vacancies are filled. The median home value of 486,532 also points to an area where property appreciation might not be as rapid as in other regions, but it offers a stable environment for long-term investments.
In conclusion, for ZIP 76270, the combination of a reasonable FMR, a stable median home value, and a moderate median income makes it a suitable location for Section 8 properties, though landlords should expect a slower turnover rate given the lower renter share. Verdict: Suitable for Section 8 investment with moderate expectations.
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.