Location: Young County, TX | Metro: Wichita Falls, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
ZIP code 76389, located within the Young County, TX metro area, exhibits characteristics that suggest it could be considered a value pocket. The Family Monthly Rent (FMR) for ZIP 76389 is set at $910 for fiscal year 2024, which is notably lower than the market rent of $1,025. This indicates that properties in this ZIP code are likely to be more affordable for low-income renters who qualify for Section 8 assistance.
The median home value in ZIP 76389 stands at $291,858, which is reflective of the overall housing market in Young County, TX. However, the 10.2% renter share is relatively low compared to the average renter share in the county, suggesting that fewer residents in this ZIP code rely on renting. Despite this, the combination of a below-market FMR and a slightly above-average renter share points towards an area that may attract Section 8 participants due to the affordability of rents relative to home values.
In Young County, TX, typical ZIP codes have higher home values and more balanced renter shares, but ZIP 76389's lower FMR and competitive market rent make it stand out. Landlords and small-portfolio investors should note that while the renter share is not exceptionally high, the lower FMR could serve as a significant advantage in attracting tenants eligible for Section 8 benefits. This makes ZIP 76389 a potentially attractive location for those looking to optimize their investment strategy within the Section 8 program framework.
To summarize, ZIP 76389 appears to be a value pocket within the Young County, TX metro area. It offers a lower FMR compared to the market rent, making it an appealing option for low-income renters. The slightly above-average renter share combined with lower FMR suggests that this ZIP code could be a sweet spot for Section 8 properties, providing a good balance between rental income and property values.
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.