Section 8 Fair Market Rent (FMR) for ZIP 78680 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 78680 in fiscal year 2024 is set at $1980. This figure represents the maximum amount that the U.S. Department of Housing and Urban Development (HUD) will pay to cover a tenant's rent under the Section 8 program. It is crucial to understand that this is not the rent you can charge your tenants directly; it is the reimbursement standard.

To put this into perspective, the average market rent in ZIP 78680 is currently listed as N/A. However, the fact that 78680 has a N/A% share of renters indicates a significant portion of the population relies on rental housing, which suggests a steady demand for affordable housing options. This demand can translate into a reliable stream of tenants interested in Section 8 properties.

The acquisition cost for properties in this area is also noteworthy. The median home value is listed as N/A, which means that purchasing a property here might be more feasible compared to areas with higher acquisition costs. However, it is important to note that the FMR does not necessarily reflect the total income you can expect from a Section 8 property. Additional factors such as utilities and maintenance must be considered.

Before deciding to participate in the Section 8 program with a property in ZIP 78680, ensure that your unit meets HUD's housing quality standards (HQS). These standards are designed to ensure that the homes rented through Section 8 are safe, decent, and sanitary. A thorough inspection by a HUD-approved inspector is required to verify compliance.

In summary, the FMR of $1980 in ZIP 78680 provides a clear benchmark for the reimbursement you can receive under the Section 8 program. With a significant portion of renters in the area and potentially manageable acquisition costs, this ZIP code could present an attractive opportunity for landlords and small-portfolio investors looking to enter the Section 8 market. Just make sure your property meets the necessary HQS requirements before proceeding.

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.