Location: Milam County, TX | Metro: College Station-Bryan, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
The ZIP code 76556 is not predominantly a renter-heavy area. With only 6.1% of the population being renters, it indicates that the majority of residents in this area own their homes rather than renting. This can be seen as a reflection of the median household income, which stands at $52,328. Given the lack of specific market rent data, we can use the Fair Market Rent (FMR) as a reference point. The FMR for ZIP 76556 is set at $970 for fiscal year 2024.
To understand how rental costs compare to local income, let's assume that the typical market rent aligns closely with the FMR. In this case, a landlord should expect that the average rent would consume approximately 18.5% of the median household income ($970 / $52,328 * 100). This percentage suggests that while rents are not exorbitant, they still represent a significant portion of the monthly income for the average household.
Comparing the FMR to the Section 8 voucher limits, we see that the maximum allowable rent under the program is also $970 for FY 2024. This means that landlords in ZIP 76556 who want to attract Section 8 tenants must keep their rents at or below this level. The alignment between the FMR and the Section 8 voucher limit implies that there could be a substantial number of Section 8 eligible households in the area, given the income levels.
The tenant profile a landlord should expect in ZIP 76556 includes individuals and families who rely on Section 8 vouchers to afford housing. These tenants will likely have an annual income that does not exceed 50% of the area median income, which is around $26,164 based on the median income figure provided. Landlords should prepare to work with the local housing authority to ensure compliance with Section 8 regulations and to facilitate the leasing process for these tenants.
In conclusion, while ZIP 76556 is not a highly renter-dense area, it has a sufficient number of potential Section 8 tenants due to the income levels and the alignment of market rents with the FMR. Landlords operating in this ZIP code should focus on maintaining rents at or below $970 to remain competitive and attractive to those using Section 8 vouchers.
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.