Location: Hill County, TX | Metro: Hill County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,650 |
| 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 median income in ZIP code 76631 stands at $97,083, which provides a solid financial foundation for many households. However, when considering the market rate for rent, which is $775 according to the Census ACS, it becomes evident that a significant portion of the income is dedicated to housing costs. This represents a substantial 15.7% of the median income.
In contrast, the Fair Market Rent (FMR) set by the government for ZIP 76631 in fiscal year 2026 is $1,140. This figure is notably higher than the market rate, indicating that the government's standard for rental assistance is designed to cover a broader range of housing options. For households relying on Section 8 vouchers, the $1,140 voucher payment can significantly alleviate the burden of high rents, making it possible to secure better quality living spaces.
With 25.2% of the population being renters, and a total population of 455, the competition among landlords is relatively low compared to densely populated areas. However, the affordability gap between the market rate and the FMR suggests that landlords who accept Section 8 vouchers may have an advantage in attracting tenants who seek stable and affordable housing solutions.
The takeaway for landlords is clear: accepting Section 8 vouchers can be a strategic move. While the $1,140 voucher payment is higher than the current market rate of $775, it ensures a steady stream of rent and a reliable tenant base. Landlords should weigh the benefits of guaranteed payments against the potential for higher rents from cash-paying tenants, keeping in mind the importance of providing accessible housing options in a community where financial stability is key.
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.