Location: Milam County, TX | Metro: Milam County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
The market in ZIP code 76518 presents a dynamic environment where the Federal Market Rent (FMR) set at $970 for fiscal year 2026 exceeds the current market rent of $704 as reported by the Census ACS. This suggests that the rental market is currently underpriced relative to federal standards, indicating potential upward pressure on rents.
The median home value of $330,008 provides insight into the overall cost of living and property values in the area. However, without specific data on the percentage of price cuts or days on market (DOM), it's challenging to definitively state whether supply outpaces demand or vice versa. Yet, the gap between the FMR and market rent implies a possible imbalance where demand could be rising or supply might be constrained.
The 21.6% renter share is noteworthy. In areas with a higher proportion of renters, there tends to be greater long-term housing pressure. This can be due to factors such as affordability issues, job mobility, or lifestyle choices that favor renting over owning. As a result, landlords and small-portfolio investors should anticipate a persistent demand for rental properties, driven by the significant portion of residents who prefer or require rental housing.
In summary, the snapshot of ZIP 76518 indicates a rental market that is currently below federal guidelines, suggesting potential growth in rental rates. The high renter share points to sustained pressure on the housing market, favoring investments in rental properties.
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.