Location: Navarro County, TX | Metro: Navarro County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The market in ZIP code 76679 presents a dynamic landscape that is indicative of strong rental demand. With a Fair Market Rent (FMR) of $1,010, as set for the fiscal year 2026, and an actual market rent of $1,738 according to the Census ACS data, there is a significant gap between the government benchmark and what tenants are willing to pay. This suggests that the rental market is robust, likely due to a combination of factors including employment opportunities, population growth, and limited affordable housing options.
The median home value in the area stands at $250,163. While the lack of specific data on price-cut share and days on market (DOM) makes it difficult to draw conclusions about the pace of sales, the high market rent relative to the FMR points towards a scenario where demand for rental properties is outpacing supply. Landlords and small-portfolio investors can capitalize on this imbalance by offering well-maintained rental units that meet the needs of the local tenant base.
A noteworthy statistic is the 21.5% renter share. This figure is relatively low compared to many urban areas but still signals a considerable portion of the population that relies on rental housing. In the context of long-term housing pressures, a lower renter share might imply that homeownership is more prevalent, which could be due to various reasons such as affordability, cultural preferences, or economic stability. However, the presence of a sizeable rental market indicates ongoing pressure to accommodate those who cannot or choose not to buy homes, possibly due to job mobility, financial constraints, or lifestyle choices.
Landlords should be aware of the potential for increased competition as the rental market continues to thrive. Providing quality amenities and maintaining competitive pricing will be crucial to attract and retain tenants. Additionally, understanding the local economy and demographics will help in making informed decisions about property investments and management strategies.
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.