Location: Runnels County, TX | Metro: Coke County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The median home value in ZIP Code 76865 (Norton, TX) is $134,700. This is significantly lower than the median home value of $308,213 in Texas and $356,002 in the United States. With the HUD Fair Market Rent (FMR) for the metro area set at $1,090 for FY 2026, it's important to note that the actual median rent in ZIP Code 76865 is listed as $0, indicating a lack of recent rental data.
Given the HUD FMR of $1,090, voucher tenants would likely cashflow at this figure, considering the low median home value. However, without precise market rent data, we cannot definitively state the exact cashflow scenario, but it is reasonable to assume that even standard units could generate positive cashflow.
The rent-to-price ratio, derived from the available data, suggests a rental market that is undervalued relative to home values. This ratio could indicate a potential for appreciation in rental property values if the market were to correct itself to align more closely with national averages.
The strongest investor angle in ZIP Code 76865 appears to be stability. The low median home value combined with the low vacancy rates for both owner-occupied and rental units indicates a steady demand for affordable housing in this area. This stability can provide a reliable source of passive income for investors who can acquire properties at or below the median home value.
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.