Location: Lipscomb County, TX | Metro: Lipscomb County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The rent math in ZIP code 79024 does not favor landlords. The Fair Market Rent (FMR) set at $970 for the fiscal year 2026 is significantly higher than the current market rent of $593, according to the Census American Community Survey. This discrepancy suggests that landlords may struggle to find tenants willing to pay the FMR, leading to potential vacancies and revenue loss.
Regarding acquisition affordability, the data indicates that the median home value is N/A. Additionally, the average number of days on the market (DOM) and the percentage of homes requiring price cuts are also listed as N/A. Without these figures, it's challenging to assess the overall affordability of acquiring properties in this area. However, the lack of specific data points might suggest limited activity in the real estate market, which could indicate lower competition among buyers.
Tenant demand in ZIP 79024 is relatively low. With a total population of 349, only 28.7% of residents are renters. This means that there are approximately 100 potential renters in the area, which is insufficient to support a high-density rental property. Furthermore, the small number of renters implies a limited pool of tenants, making it difficult to maintain occupancy rates and ensure steady cash flow.
In summary, ZIP code 79024 presents several challenges for landlords and small-portfolio investors. The disparity between the FMR and the actual market rent makes it difficult to justify rental prices that meet the government standard. Acquisition costs cannot be accurately assessed due to missing data, but the low tenant demand and small population size suggest that finding and retaining tenants will be particularly challenging. Given these factors, investing in this ZIP code is not advisable unless you can secure properties at a deeply discounted rate and are prepared to operate in a market with limited tenant demand.
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.