Location: Hale County, TX | Metro: Hale County, TX
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $87,196 | 1.18% | B |
| 3BR | $1,430 | $160,378 | 0.89% | C |
| 4BR | $1,580 | $212,851 | 0.74% | D |
U.S. Census Bureau data (2024)
The ZIP code 79072, located in Plainview, TX, presents a dynamic housing market that is currently experiencing shifts indicative of both supply and demand forces. The Fair Market Rent (FMR) stands at $980, reflecting the anticipated metro area rental rate for fiscal year 2026. In contrast, the current market rent, as measured by ZORI (Zillow Observed Rent Index), is $913. This suggests that the market is gradually moving towards higher rents, aligning with future projections.
The 0.1% price-cut share indicates that very few landlords are reducing their asking rents, which implies that the current rental rates are generally acceptable to tenants. A low price-cut share often signals a stable or slightly improving market, where landlords can maintain their pricing without significant adjustments.
Average days on market (DOM) for rental properties in this ZIP code is 62 days, which is relatively short. This could indicate that there is a good balance between the number of available rental units and the number of interested tenants. However, it also suggests that once a property becomes available, it is quickly occupied, indicating a competitive market for rentals.
The median home value in ZIP 79072 is $116,077, which is notably lower than the typical national average. This figure may suggest that homeownership is accessible to a broader range of residents, but it also reflects the overall economic conditions of the area.
The renter share of 43.6% reveals that nearly half of the households in this ZIP code are renters. This high percentage of renters could imply ongoing long-term housing pressure, as a significant portion of the population relies on rental housing rather than owning homes. It suggests that even if homeownership is affordable, there remains a substantial segment of the market that prefers or needs rental options.
In summary, ZIP 79072 exhibits a market where demand for rentals is robust, supported by a relatively short DOM and low price-cut share. The FMR and ZORI data points hint at a market that is moving towards higher rents, suggesting a gradual tightening of the rental market. With a substantial renter share, the long-term dynamics of the housing market point to sustained pressure on rental availability and pricing.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.