Location: Concho County, TX | Metro: Concho County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
U.S. Census Bureau data (2024)
The median income in ZIP code 76866 stands at $56,429, which presents a challenging environment for renters looking to afford the market rate rent of $1,021. This figure represents a significant portion of the average household's income, making it difficult for many residents to secure housing without financial assistance.
In contrast, the Federal Market Rent (FMR) standard for ZIP 76866 is set at $1,150 for fiscal year 2026. This standard is higher than the current market rate, indicating that households relying on Section 8 vouchers might have an easier time finding suitable housing within their budget constraints. However, the higher FMR also suggests that landlords accepting vouchers will face increased costs compared to renting at the current market rate.
With only 15.7% of the 1,111 population being renters, the competition among landlords is relatively low. This means that landlords have a smaller pool of potential tenants to draw from, and thus must consider carefully how they position themselves in the local rental market.
The affordability gap between the median income and both the market rate ($1,021) and the FMR ($1,150) highlights a critical challenge for renters in ZIP 76866. For landlords, this translates into a strategic decision point when considering whether to accept Section 8 vouchers or focus on cash-paying tenants. Accepting vouchers ensures a steady stream of rent payments but at a higher rate that may exceed the current market. Opting for cash-paying tenants could lead to lower rents but also greater flexibility in tenant selection and management practices.
Takeaway: Landlords in ZIP 76866 should weigh the benefits of a guaranteed income from Section 8 vouchers against the potential for lower rents and less administrative burden from cash-paying tenants. The choice should be informed by the local economic conditions and the specific needs of the property and its intended tenant base.
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.