Location: Wheeler County, TX | Metro: Collingsworth County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,270 |
| 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)
The investment risk assessment for ZIP code 79079 reveals several potential challenges for landlords considering Section 8 participation. First, tenant turnover could be an issue due to the disparity between the market rent of $981 and the Fair Market Rent (FMR) of $1,020 for fiscal year 2026 in the metropolitan area. This difference might lead to higher turnover rates as tenants seek properties that match their financial capabilities.
Vacancy exposure is another concern, as the Days on Market (DOM) data is currently unavailable. Without this information, it's difficult to predict how long a property might remain vacant, which can significantly impact cash flow. Additionally, the typical home value of $74,289 paired with a median income of $51,250 suggests a potential for deferred maintenance, as homeowners may struggle to afford necessary repairs and upgrades.
However, these risks are somewhat mitigated by the high renter share of 24.8%. A substantial portion of the population renting homes typically indicates a robust demand for rental properties, including those that accept Section 8 vouchers. The presence of many renters often translates into a steady pool of voucher holders looking for housing, providing a reliable stream of potential tenants.
In conclusion, despite the challenges posed by tenant turnover, vacancy exposure, and deferred maintenance, the high renter share in ZIP 79079 makes it a moderate risk for a first-time Section 8 landlord. The balance of risks and opportunities suggests that careful management and property selection will be key to success in this market.
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.