Location: Coke County, TX | Metro: San Angelo, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
U.S. Census Bureau data (2024)
ZIP code 76945, located within the Coke County, TX metro area, presents an interesting mix of metrics that can help us understand its position relative to other ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 76945 is set at $1150 for fiscal year 2024, which is a critical figure for landlords and investors interested in Section 8 housing. This FMR is likely higher than the average market rent in the ZIP, which stands at $442. This disparity suggests that there may be opportunities for landlords to participate in the Section 8 program, as the government subsidy would cover a significant portion of the rental costs.
The absence of home value data for ZIP 76945 means we cannot directly compare it to other ZIP codes in terms of property values. However, the 32.5% renter share is a key indicator. In many cases, a higher percentage of renters in a ZIP code correlates with a greater demand for affordable housing, making it a potential sweet spot for Section 8 properties. Given the relatively low market rent and the higher FMR, landlords could benefit from the guaranteed income stream provided by the Section 8 program.
To determine whether ZIP 76945 is a value pocket, a mid-tier neighborhood, or a premium sub-market, we need to consider the broader context of the Coke County, TX metro. Typically, a value pocket would have lower rents and property values compared to the metro average, while a premium sub-market would have higher rents and values. Since the market rent is below the FMR and the renter share is notably high, ZIP 76945 leans towards being a value pocket. This makes it attractive for landlords and small-portfolio investors looking to capitalize on the Section 8 program, offering a balance between manageable property costs and the financial security of subsidized tenants.
Investors should note the divergence between the high renter share and the lack of data on home values. This could indicate a unique situation where the ZIP code has a strong demand for rental units, particularly those eligible for Section 8 subsidies, without the corresponding rise in home values seen in some other areas. Such conditions often create a stable and predictable investment environment for those focused on rental properties.
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.