Location: Limestone County, TX | Metro: Limestone County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The ZIP code 76635 presents several challenges for landlords considering participation in the Section 8 program. Tenant turnover is a significant concern, with the market rent at $852 being notably lower than the Fair Market Rent (FMR) of $970. This disparity suggests that tenants might seek higher-rent properties outside the program, leading to increased turnover rates. Vacancy exposure is another issue; the days on market (DOM) data is unavailable, which implies uncertainty regarding how quickly units can be filled. Additionally, the deferred maintenance risk is elevated due to the median income of $62,031, which is insufficient to cover the costs of necessary repairs and improvements without financial strain. The typical home value is also unspecified, making it difficult to assess the overall condition and potential maintenance costs of properties in the area.
Despite these risks, the high renter share of 28.6% in ZIP 76635 indicates a robust demand for rental housing, including those supported by vouchers. A dense population of renters often translates into a steady stream of voucher holders seeking affordable housing options. This factor can mitigate some of the risks associated with tenant turnover and vacancy exposure, as there is a larger pool of potential tenants.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.