Location: Brown County, TX | Metro: Brown County, TX
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,070 |
| 5 Bedrooms | $2,401 |
| 6 Bedrooms | $2,689 |
| 7 Bedrooms | $2,904 |
| 8 Bedrooms | $3,049 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,430 | $197,746 | 0.72% | D |
| 3BR | $1,850 | $275,123 | 0.67% | D |
| 4BR | $2,070 | $348,052 | 0.59% | F |
U.S. Census Bureau data (2024)
Skeptical investors considering Early, TX (ZIP 76802) for their rental properties often have several key concerns that need addressing. One primary objection is whether the Fair Market Rent (FMR) of $1,280 for the metro area in fiscal year 2026 will be sufficient to cover the mortgage on a home priced at $244,192. To evaluate this, we must consider the typical mortgage rates and terms. Assuming a 30-year fixed-rate mortgage at an average rate of around 4%, the monthly payment on a $244,192 home would be approximately $1,160. This means that the FMR of $1,280 would indeed cover the mortgage, leaving a buffer for maintenance and other costs.
The second concern is the level of renter demand, which stands at 21.1%. While this percentage might seem low, it's important to note that the demand for rental housing is not solely determined by the percentage of renters but also by the overall population and job market. Early, TX, with a population of around 1,200, has limited housing options, making rental properties a necessary choice for many residents. Moreover, the local economy, particularly agriculture and small businesses, supports a steady income base, ensuring a consistent demand for rentals.
A final objection relates to the sustainability of voucher programs keeping up with market rents of $1,280. The data shows that voucher holders can indeed find units within the FMR range, but the challenge lies in the annual adjustments made by the government. These adjustments do not always align with the rapid changes in the local real estate market. Therefore, while vouchers can help cover the rent, landlords should be prepared for potential fluctuations in the amount they receive from the voucher program. It's advisable to monitor the local housing authority's policies closely to anticipate any changes.
In summary, while Early, TX presents some challenges, the data suggests that the FMR is adequate to cover mortgages, there is sufficient demand among renters, and voucher programs can generally support market rents, though with some variability. Landlords and small-portfolio investors should conduct thorough due diligence to ensure these factors remain favorable over time.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.