Location: Killeen-Temple, TX | Metro: Killeen-Temple, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 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)
The analysis of ZIP 76599 within the Killeen-Temple, TX HUD Metro FMR Area reveals several key points for landlords and small-portfolio investors.
Regarding the rent math, the Family Monthly Rent (FMR) set at $1110 for fiscal year 2024 does not provide a direct comparison to the market rent since the latter is currently unavailable. However, it's crucial for landlords to ensure that their rental rates align closely with the FMR to attract government-subsidized tenants effectively.
In terms of acquisition affordability, the data lacks specific figures for the median home value, days on market (DOM), and the percentage of homes needing price cuts. This absence makes it challenging to assess whether property acquisitions in this area are financially feasible without additional research into recent market trends and conditions.
Tenant demand appears robust with a population of 1,980. Unfortunately, the exact percentage of renters is not available, which would have been instrumental in gauging the potential occupancy rate and the overall attractiveness of the area for rental properties.
Verdict: The ZIP code 76599 shows promise due to its population size, which suggests a decent pool of potential tenants. However, the lack of detailed market data such as median home values, days on market, and the percentage of price cuts limits a comprehensive assessment of acquisition affordability. Landlords must carefully set their rents to match the $1110 FMR to remain competitive and eligible for government subsidies. Further investigation into local market conditions is recommended before making investment decisions.
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.