Location: Lamb County, TX | Metro: Hale County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,400 |
| 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 ZIP code 79064 is situated in a small-town setting, primarily characterized by its modest size with a total population of 2,099 residents. The area has a notable rental segment, with 28.8% of the population being renters, indicating a niche but stable demand for rental properties. The median household income in this region stands at $59,698, which is relatively low compared to national averages, suggesting a community where many residents might be seeking affordable housing options. Reflecting the overall economic profile, the median home value in ZIP 79064 is $110,180, aligning with the lower-income bracket and indicating that the real estate market here is accessible for both homeowners and investors looking to enter at a lower price point.
Moving into the specifics of the rental market, the Fair Market Rent (FMR) for ZIP 79064, as projected for metro areas in fiscal year 2026, is set at $970. This figure contrasts with the current market rent, which is recorded at $1,045 according to the latest Census ACS data. The discrepancy between the FMR and the market rent suggests that there is potential for Section 8 tenants to find properties within their budget, while landlords might see slightly lower rents than the market average when accepting vouchers.
In evaluating whether ZIP 79064 fits a hands-off voucher operator or requires a more hands-on approach, several factors come into play. Given the modest size and stable rental demand, a hands-off strategy could be viable for those interested in maintaining a passive investment portfolio. However, the difference between FMR and market rent implies an opportunity for value-add strategies. Landlords who are willing to invest in property improvements could potentially command higher rents above the FMR, thereby attracting both voucher and non-voucher tenants. This dual approach allows for greater flexibility and can cater to a broader spectrum of the local market needs.
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.