Location: San Angelo, TX | Metro: San Angelo, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 76941 within the San Angelo, TX MSA reveals several key points for landlords and small-portfolio investors.
Firstly, the rent math does not favor the landlord. The Fair Market Rent (FMR) set at $1,170 for the fiscal year 2024 is significantly lower than the market rent of $1,950 as reported by the Census ACS. This discrepancy suggests that landlords might struggle to cover their costs if they adhere strictly to the FMR guidelines.
Secondly, the acquisition cost of properties in this area is relatively low, with a median home value of $273,717. However, the lack of data on days on market (DOM) and the percentage of homes sold with price cuts indicates an incomplete picture of the market dynamics. Investors should be cautious and seek additional local insights before making purchase decisions.
Lastly, there is moderate tenant demand in ZIP 76941. With a population of 1,158 and a renter share of 19.4%, the number of potential renters stands at approximately 224 individuals. This figure represents a modest pool of tenants, which could impact the ability to quickly fill vacancies.
Verdict: While the median home value offers an affordable entry point into the market, the disparity between the FMR and market rent poses a challenge for maintaining profitability. The limited data on DOM and price-cut shares further complicates the assessment of acquisition feasibility. Tenant demand is present but not robust, suggesting that landlords must carefully manage their rental pricing and property maintenance to attract and retain tenants. Overall, ZIP 76941 presents opportunities but requires thorough due diligence and strategic management to succeed.
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.