Location: McCulloch County, TX | Metro: McCulloch County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The ZIP code 76887 is located in a suburban area of Texas, characterized by a relatively small population of 87 residents. This neighborhood stands out due to its unique demographic profile, where there are no reported renters, indicating that it is primarily composed of homeowners. The median household income in this area is exceptionally high at $155,192, suggesting a community of financially stable individuals. However, the median home value data is not available, which could imply either a lack of recent sales data or an area where homes are not frequently listed or sold.
Moving into the economic analysis of rental properties, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,040. This figure represents the maximum amount that a Section 8 voucher holder can pay for rent in the area. Unfortunately, the specific market rent for ZIP 76887 is also not available, making it challenging to compare the FMR with actual rental prices. Given the absence of renters in the area, it's likely that any rental properties would be few and far between, potentially commanding premium rates if they exist at all.
Considering the characteristics of ZIP 76887, it would not be a suitable location for a hands-off voucher operator. The lack of rental units and the high median income suggest that tenants who qualify for Section 8 vouchers might struggle to find housing here, and landlords might be less inclined to participate in the program given the financial stability of the local residents. On the other hand, for a hands-on value-add buyer, there could be potential opportunities to develop rental properties that cater to lower-income families, provided that the demand for such housing can be identified and the financials make sense. However, the high median income and low number of renters indicate that any such venture would need to carefully assess the market dynamics and possibly target niche segments of the population.
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.