Location: Roberts County, TX | Metro: Gray County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $1,010 for ZIP 79059 will sufficiently cover the mortgage on a home. Unfortunately, the specific cost of a home in ZIP 79059 is not available in the data provided, making it challenging to definitively state if the FMR will cover the mortgage. However, it's important to consider that the FMR is designed to reflect the typical rent in the area, which should provide a reasonable estimate of rental income potential.
The same investor could also doubt if there is sufficient renter demand at 15.5%. This percentage indicates the share of renters in the area, which is relatively low. While this might suggest a smaller pool of potential tenants, it's crucial to note that the demand for rental properties can still be strong, especially if the area has job growth or attracts newcomers.
Another concern could be whether government vouchers will keep pace with the $841 market rents. Vouchers are intended to help low-income individuals afford housing, but their value is often adjusted based on the local housing market. In ZIP 79059, landlords who accept vouchers should expect to receive payments that are close to the market rate, although exact adjustments are not specified in the available data.
To make a well-informed decision, investors should look into additional factors such as the local economy, employment trends, and the overall stability of the housing market in ZIP 79059. These elements will provide a clearer picture of the investment's potential success.
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.