Section 8 Fair Market Rent (FMR) for ZIP 76870 - 2027
Location: Mills County, TX | Metro: Mills County, TX
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $780 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$66,875
A skeptical investor considering ZIP 76870 might raise several valid concerns regarding the feasibility of investing in Section 8 properties there. Let's address these points directly with the available data.
- Will FMR $970 (metro FY 2026) cover the mortgage on a N/A home? The data indicates that the Fair Market Rent (FMR) for ZIP 76870 is set at $970 per month for FY 2026. However, without specific details on average home prices and mortgage rates in the area, it's impossible to definitively state whether this amount will cover a typical mortgage payment. Investors should consult local real estate agents and financial advisors to determine if this FMR can sustainably support a mortgage on a property in this ZIP code.
- Is there enough renter demand at 0.0%? The statistic showing 0.0% renter demand suggests a significant lack of interest from potential renters in ZIP 76870. This could indicate an oversupply of rental units or a challenging economic environment where residents prefer homeownership. To mitigate risk, landlords and investors must consider diversifying their offerings or exploring alternative investment strategies that don't rely solely on rental income.
- Will vouchers keep pace with N/A market rents? The effectiveness of housing vouchers in covering market rents in ZIP 76870 cannot be assessed without knowing the current average market rent levels. If the voucher amounts are consistently below the actual market rents, landlords may face difficulties in attracting tenants or maintaining occupancy rates. It's crucial to monitor both voucher adjustments and market rent trends to ensure long-term viability of investments.
The data provided raises questions that need further exploration. Investors must delve into local market specifics to make informed decisions about the profitability and sustainability of Section 8 investments in ZIP 76870.
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.