Location: Young County, TX | Metro: Jack County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $1,000 for ZIP 76460 will sufficiently cover the mortgage on a typical home in this area. The median home price in 76460 is currently $375,703, and while the exact mortgage amount isn't provided, it's important to note that the median AVM value for properties sold in the last year is significantly lower at $169,000. This suggests that recent transactions have been at a lower price point, potentially making a $1,000 FMR more viable for covering mortgage costs.
The investor could also doubt the level of renter demand at 23.7%. However, with 60.69% of homes having more than 50% equity, this indicates a stable homeowner base, but also leaves room for rental opportunities. While the data doesn't provide a direct correlation between equity levels and rental demand, it does suggest that there are still a significant number of homes available for potential rental investments.
Another concern might be whether government vouchers will keep pace with the local market rents. Unfortunately, the data does not provide specific information on voucher amounts or their adjustment rate. However, given the relatively low median home price and AVM value, it's plausible that vouchers could cover a substantial portion of the rent, especially if they are adjusted annually based on cost-of-living increases.
While these points address some of the investor's concerns, the lack of detailed mortgage and voucher data means that further investigation is necessary to fully evaluate the financial viability of rental investments in ZIP 76460.
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.