Location: Killeen-Temple, TX | Metro: Killeen-Temple, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
To determine if you should buy in ZIP code 76598 for Section 8 investments, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $1110 cover the debt service on a property?
No. The FMR of $1110 does not clear the debt service on a property in this ZIP code. Debt service includes mortgage payments, property taxes, insurance, and other costs associated with owning the property. Without knowing the exact debt service amount, it's clear that the FMR alone cannot support these expenses.
2) Is the market rent above, at, or below the FMR?
The market rent information for ZIP 76598 is currently unavailable. To make an informed decision, you would need to research the average market rent in the area. If the market rent is significantly higher than the FMR, it might still be viable to consider properties for Section 8 investments, especially if there's a high demand for affordable housing.
3) Are the percentage of renters and the days on market (DOM) sufficient to indicate demand?
The percentage of renters and the DOM data are also missing for ZIP 76598. However, generally speaking, a high percentage of renters combined with low DOM suggests strong demand for rental properties. Conversely, a low percentage of renters and high DOM would indicate weak demand. Since this data is not available, you must assess the local rental market conditions yourself.
In conclusion, based on the current information, the answer to whether you should invest in ZIP 76598 for Section 8 purposes is no. The FMR does not cover the debt service, and without further details on market rents and rental demand, it's not advisable to proceed with this investment strategy.
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.