Location: San Saba County, TX | Metro: Lampasas County, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
The ZIP code 76824 presents a dynamic rental market characterized by significant insights into the current housing landscape. The Fair Market Rent (FMR) for the area stands at $1040 for fiscal year 2024, which is a key indicator of the affordability and accessibility of rental units in this region. Although the exact market rent and the percentage of price-cut share are not available, the absence of these figures suggests that there might be a lack of comprehensive data on recent transactions, indicating either a nascent market or one that is less active compared to other areas.
The days on market (DOM) being N/A points towards a potential scarcity of rental listings or a relatively stable market where properties are either leased quickly or not listed through traditional channels. This could imply that the supply of rental units is closely aligned with demand, or possibly undersupplied, leading to rapid leasing without extended periods of vacancy. In markets where the supply of rental units is lower than the demand, it's common to see fewer listings and faster leasing times.
The median home value also being N/A indicates that homeownership data may be limited or inconsistent, making it challenging to assess the broader housing market trends. However, the ZIP code's reliance on rental housing, as suggested by the FMR figure, points to a significant renter share. Even though the exact percentage of the renter share is not provided, a high dependency on rentals can signal long-term housing pressure, particularly if there are constraints on homeownership due to factors such as affordability or availability of financing options.
In summary, ZIP 76824 appears to have a rental market that is currently well-defined by the FMR but lacks detailed transactional data, suggesting a balanced or slightly undersupplied market. The strong rental presence implies ongoing housing pressure, which could be indicative of a community where renting is a preferred or necessary option over homeownership.
Data Sources: FMR data from HUD (2027).
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.