Location: Jack County, TX | Metro: Fort Worth-Arlington, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,700 |
| 1 Bedroom | $1,740 |
| 2 Bedrooms | $2,090 |
| 3 Bedrooms | $2,790 |
| 4 Bedrooms | $3,430 |
| 5 Bedrooms | $3,979 |
| 6 Bedrooms | $4,456 |
| 7 Bedrooms | $4,812 |
| 8 Bedrooms | $5,053 |
U.S. Census Bureau data (2024)
The market in ZIP 76487 presents a dynamic environment characterized by specific metrics that offer insights into the balance between supply and demand. The Fair Market Rent (FMR) stands at $2,020, reflecting the rental standards set by HUD for fiscal year 2024. In contrast, the actual market rent, as reported by the Census ACS, is notably lower at $1,132. This discrepancy suggests that the current market rent is significantly below the government's benchmark, indicating potential underpricing or an oversupply of rental units.
A further indicator of market conditions is the price-cut share, which is a mere 0.2%. This figure implies that very few landlords are willing to reduce their rental prices, suggesting strong confidence in the stability of current pricing. However, the lack of data on days on market (DOM) makes it challenging to fully assess the speed at which properties are being rented or sold, leaving some ambiguity regarding immediate demand.
The median home value in ZIP 76487 is $454,903, providing a clear picture of the typical property value in the area. This can be compared against rental prices to gauge the attractiveness of owning versus renting. With a renter share of 10.6%, we observe a relatively low proportion of renters in the overall housing market. This statistic indicates that most residents in ZIP 76487 prefer homeownership over renting, which could suggest long-term stability and a preference for investment in owned property over rental assets.
The low renter share also points to a potentially stable long-term housing pressure scenario, where fewer people are looking for rental accommodations. For landlords and small-portfolio investors, this means the market may not be experiencing rapid changes in demand for rentals, but rather a steady state with a focus on retaining tenants and maintaining occupancy rates. Homeowners, therefore, might have a competitive advantage in this market, given the inclination towards purchasing rather than renting.
In summary, ZIP 76487 appears to be a market where supply slightly outpaces demand, particularly in the rental sector. The low renter share suggests a trend towards homeownership, which could influence future investment decisions. Landlords should remain vigilant to ensure they align their rental offerings with the fair market rent to maintain competitiveness and profitability.
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.