Location: Stephens County, TX | Metro: Palo Pinto County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 76475 is located in a small, close-knit neighborhood with a total population of 997 residents. Approximately 29.7% of these residents are renters, indicating a modest demand for rental properties. The median household income in this area stands at $58,333, which is reflective of a middle-class community. Median home values in ZIP 76475 are set at $324,348, suggesting a mix of owner-occupied homes and some rental units.
Moving into the realm of rent economics, the Fair Market Rent (FMR) for the metro area, as of fiscal year 2026, is established at $970. However, the current market rent, according to Census ACS data, is significantly lower at $655 per month. This discrepancy highlights a potential opportunity for landlords and small-portfolio investors to either operate hands-off with Section 8 vouchers, capitalizing on the higher FMR rate, or take a more active role in improving properties to command closer to the FMR rate.
For a hands-off operator, ZIP 76475 presents an attractive landscape due to the relatively low market rents compared to the FMR. Landlords can secure steady, government-backed income through Section 8 vouchers without the need for extensive property management. Conversely, for a hands-on investor looking to add value, there's room to increase rents by enhancing property conditions and amenities, potentially closing the gap between the current market rate and the FMR.
In summary, ZIP 76475 offers a balanced environment for both types of investors. Its modest population and rental market make it suitable for those seeking stable returns through Section 8 programs. Meanwhile, the disparity between FMR and market rents provides a clear path for value-add strategies, allowing for increased profitability through improved property management and enhancements.
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.