Location: Wichita Falls, TX | Metro: Wichita Falls, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 76357 reveals key insights into its viability for Section 8 real-estate investment.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 76357 in fiscal year 2024 is set at $910. However, market rent data is currently unavailable, making it difficult to directly compare the FMR to the prevailing market rates. Without this comparison, landlords must rely on the FMR to ensure their properties remain competitive within the Section 8 program.
Regarding the affordability of property acquisition, the median home value is not available, which complicates assessing the typical cost of homes in this area. Additionally, the average days on market (DOM) and the percentage of homes that have been discounted are also unspecified. This lack of data means that potential investors cannot accurately gauge how quickly they can sell properties or if they will need to adjust their asking prices to attract buyers.
The tenant demand is another critical factor. With a population of 525, only 5.0% of residents are renters. This indicates a limited pool of potential tenants, suggesting that the rental market might be constrained. Landlords would need to carefully consider the competition and the likelihood of finding eligible Section 8 tenants in such a small rental market.
In conclusion, while the Fair Market Rent provides a clear guideline for rental income, the absence of crucial data on market rents, median home values, days on market, and price-cut shares makes it challenging to assess the overall profitability and feasibility of acquiring properties in ZIP 76357. The low renter share further suggests that tenant demand may be insufficient to support a robust rental market. Therefore, potential investors should proceed with caution and seek additional local market intelligence before committing to investments in this ZIP code.
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.