Section 8 Fair Market Rent (FMR) for ZIP 76464 - 2027

Location: Stephens County, TX | Metro: Abilene, TX MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$910
1 Bedroom	$920
2 Bedrooms	$1,150
3 Bedrooms	$1,490
4 Bedrooms	$1,790
5 Bedrooms	$2,076
6 Bedrooms	$2,325
7 Bedrooms	$2,511
8 Bedrooms	$2,637

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

477

Median Household Income

$64,038

Housing Units

284

Renter Percentage

21.3%

Occupancy Rate

71.1%

Renter Occupied

When considering whether to invest in ZIP code 76464 for Section 8 properties, follow this decision tree:

1) Does the Fair Market Rent (FMR) of $910 cover debt service on a typical property?

No: If the FMR does not cover the debt service, investing in this ZIP code is not advisable. Debt service must be fully covered to ensure profitability.
Yes: Proceed to the next question.

2) How does the market rent of $818 compare to the FMR?

Below FMR: The market rent is below the FMR, indicating that Section 8 tenants can pay more than what the average market rent is. This suggests a potential opportunity for landlords to benefit from higher rents compared to non-subsidized tenants.
At or Above FMR: If the market rent were at or above the FMR, it would indicate that Section 8 rents might not be competitive, leading to lower occupancy rates and potentially less interest from tenants.

3) Is there sufficient demand with 21.3% of residents renting and N/A days on the market (DOM)?

It Depends: With 21.3% of residents renting, there is a notable rental market presence. However, without specific data on the average days on the market (DOM), it's challenging to determine how quickly properties are rented out. A low DOM indicates strong demand, while a high DOM suggests the opposite. To make an informed decision, you need to assess the DOM relative to the overall rental market conditions in ZIP 76464.

In conclusion, if the FMR of $910 covers the debt service and the market rent of $818 is below the FMR, there is a positive outlook for Section 8 investments in ZIP 76464. However, the strength of demand will depend on the actual DOM data, which needs to be evaluated to determine the feasibility of such an investment.

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.