Location: Knox County, TX | Metro: Baylor County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The ZIP code 76380 is primarily a renter-heavy area, with 34.3% of its population renting homes. This suggests a significant portion of residents could be eligible for Section 8 housing vouchers. The median household income stands at $45,880, which is relatively low compared to the Fair Market Rent (FMR) of $970 for the metropolitan area in fiscal year 2026.
The typical market rent in this ZIP is $581, which consumes approximately 12.7% of the median household income. This figure is derived from dividing the market rent ($581) by the median household income ($45,880), then multiplying by 100 to get the percentage. In comparison, the FMR of $970 represents a higher rental cost that would consume about 21.1% of the median income, indicating that many residents might find it challenging to afford market rates without assistance.
A landlord in ZIP 76380 can expect tenants who rely heavily on government subsidies to meet their housing needs. These tenants will likely have a monthly income that falls below 50% of the area median income, making them prime candidates for Section 8 vouchers. Given the disparity between the median income and the FMR, landlords should anticipate a tenant pool that requires financial assistance to cover rent. The voucher demand is expected to be high due to the substantial number of renters and the affordability gap in the local market.
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.