Section 8 Fair Market Rent (FMR) for ZIP 79054 - 2027
Location: Gray County, TX | Metro: Gray County, TX
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$62,500
When evaluating ZIP code 79054 for Section 8 investments, follow these steps:
- Step 1: Can the Fair Market Rent (FMR) of $1,110 cover debt service?
- Yes: If your property's debt service is less than $1,110 per month, then the FMR can cover it. This is a positive sign for Section 8 investment.
- No: If the debt service exceeds $1,110 per month, the FMR will not be sufficient to cover costs. In this case, consider other areas with higher FMRs.
- Step 2: How does the market rent of $892 compare to the FMR?
- Above FMR: If the market rent is higher than $1,110, Section 8 might not be competitive in attracting tenants.
- At FMR: If the market rent equals the FMR, Section 8 can be competitive but may struggle during periods of high demand.
- Below FMR: With a market rent of $892, which is below the FMR, Section 8 can be a viable option for securing tenants.
- Step 3: Is there enough rental demand?
- Yes: Given that 11.8% of residents are renters and assuming a reasonable number of days on the market (DOM), there is likely sufficient demand. However, the exact DOM figure is needed to make a definitive assessment.
- No: If the DOM is excessively high, indicating slow sales or rentals, even the percentage of renters may not translate into enough demand to support a Section 8 property.
- It Depends: The combination of 11.8% renters and the unknown DOM figure means demand could vary. A low DOM suggests strong demand, while a high DOM indicates weaker demand.
If you answer yes to all three steps, then purchasing a property in ZIP 79054 for Section 8 is advisable. If any step results in a no, reconsider this area for your Section 8 investment. If it depends on additional factors, gather more specific data on DOM and local rental trends before making a decision.
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.