Location: Sherman County, TX | Metro: Hansford County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
U.S. Census Bureau data (2024)
The ZIP code 79040 has a population of 1,979 individuals, with 20.3% being renters. This indicates that it is not a heavily rental-oriented area, but rather a mix of homeowners and renters. The median household income stands at $84,583, which is a significant figure when considering the local rental market.
The typical market rent in this area is $939, representing approximately 11% of the median household income. This suggests that while the rent is affordable, tenants might still be selective about their housing choices due to the relatively high income levels in the area. The Fair Market Rent (FMR) for the ZIP code is set at $1,120 for fiscal year 2026, indicating that the market rent is below the FMR, which could attract tenants who are using housing vouchers.
Given the income levels and the current market rent, landlords in ZIP 79040 can expect a tenant pool that is capable of paying rent without assistance, but there is also potential for attracting voucher holders. The FMR being higher than the market rent means that voucher holders would likely have sufficient funds to cover the difference between the market rent and the FMR, making them viable tenants.
To summarize, ZIP 79040 is not predominantly a rental area, but it offers an opportunity for landlords who cater to both income-restricted and non-income-restricted tenants. The expected tenant profile includes individuals and families who are financially stable yet may benefit from housing assistance programs, ensuring a steady stream of potential renters willing to pay around $939 per month.
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.