Location: Navarro County, TX | Metro: Navarro County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The median income in ZIP code 76639 stands at $48,514, indicating that many households struggle to meet the market rate for rent, which is set at $748 according to the Census ACS. However, the Federal Market Rent (FMR) for the area, at $970 for metro FY 2026, significantly exceeds the market rate, presenting an opportunity for landlords who accept Section 8 vouchers.
The disparity between the median income and the market rate suggests that there is a substantial affordability gap for renters. This means that a significant portion of the 34.8% of renters in the area, totaling around 748 individuals based on the 2,153 population, may find it difficult to pay the market rate without financial assistance.
Landlords in ZIP 76639 should consider the implications of this gap on their rental strategies. Accepting Section 8 vouchers could increase the pool of potential tenants, especially among those who cannot afford the $748 market rate but can cover the higher FMR of $970. This strategy could reduce competition for tenants and ensure steady occupancy rates.
However, landlords must weigh the benefits of voucher acceptance against the challenges. While vouchers can provide a more stable source of income, they also come with additional administrative requirements and potentially longer wait times for repairs and maintenance. Cash-paying tenants might offer quicker turnover and fewer bureaucratic hurdles.
The takeaway for landlords is clear: accepting Section 8 vouchers can be a viable strategy to fill units in a market where the median income is lower than the rent. By doing so, landlords can tap into a segment of the population that would otherwise be unable to afford housing at the current market rate. Yet, they must be prepared for the associated management complexities and possibly slower revenue cycles compared to cash-paying tenants.
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.