Section 8 Fair Market Rent (FMR) for ZIP 79003 - 2027
Location: Wheeler County, TX | Metro: Hemphill County, TX
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $770 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$73,125
To decide if you should buy in ZIP code 79003 for Section 8 purposes, follow this decision tree:
- Does FMR $970 (metro FY 2026) clear debt service on a property?
- If the property's debt service is less than $970 per month, then yes, FMR clears debt service. This is essential for ensuring that your rental income covers all mortgage payments and expenses.
- If the property's debt service is more than $970 per month, then no, FMR does not clear debt service. This would result in a financial loss, making it an unwise investment for Section 8.
- Is market rent above, at, or below FMR?
- If market rent is above $970, it indicates higher demand or better quality properties. However, you must ensure that tenants can afford the rent, which may require a subsidy or other assistance programs.
- If market rent is at or slightly below $970, it aligns well with FMR, providing a balanced opportunity between affordability and covering costs.
- If market rent is significantly below $970, it suggests either a depressed market or that lower-quality properties are common, potentially leading to lower rental income.
- Are 32.7% renters plus N/A-day DOM enough demand?
- A 32.7% rental rate shows moderate demand. However, without knowing the days on market (DOM), it's hard to assess how quickly units might be filled. If DOM is low, say under 30 days, then yes, there is sufficient demand.
- If DOM is high, indicating slow turnover, then it depends on other factors such as competition, location, and property condition.
In summary, for ZIP 79003, if the FMR of $970 can cover the debt service and market rents align closely with FMR, and if the rental rate and DOM suggest strong demand, then it is a viable investment for Section 8 landlords and small-portfolio investors. Otherwise, it depends on additional considerations specific to the property and market conditions.
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.