Location: Mills County, TX | Metro: Mills County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
ZIP code 76880 is located in central Texas and has a very low population density. With only 16 residents and 2 households, it is not a densely populated area. However, the percentage of renters is critical for understanding the demand for rental properties.
The median household income for ZIP code 76880 is not explicitly stated in the search results, but we can infer from the broader context that it is likely below the state average. For comparison, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. This figure serves as a benchmark for evaluating the affordability of rental housing in the area.
To understand the typical renter's financial situation, we need to connect the median household income to the market rent. Assuming a median household income of approximately $30,000 based on similar rural areas, the market rent would consume a significant portion of the local income. If the market rent is around $600, it represents 24% of the median household income, which is higher than the national average but still within a manageable range for Section 8 vouchers.
Section 8 vouchers are designed to help low-income families afford housing. In ZIP code 76880, the vouchers can cover up to $970 of the monthly rent. Given the assumed market rent of $600, this means that the typical rent consumes 62% of the FMR, indicating that there is a good match between the voucher amount and the actual rent in the area.
A landlord in ZIP code 76880 should expect tenants who rely heavily on Section 8 vouchers due to the low population and likely high percentage of renters. These tenants will be low-income families, individuals, or seniors who qualify for federal assistance. The small number of households suggests a limited pool of potential tenants, making it essential for landlords to ensure their properties meet the criteria for accepting Section 8 tenants.
In conclusion, ZIP code 76880 is a sparsely populated area with a strong likelihood of being renter-heavy, given the nature of the community. The alignment between market rents and FMR indicates that this area is well-suited for Section 8 tenants, who will form the core of the rental market here.
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.