Location: Hutchinson County, TX | Metro: Amarillo, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The ZIP code 79080 has a population of 541 residents, with 19.6% identified as renters. The median household income in this area stands at $55,313. This indicates that while there is a presence of renters, it is not a heavily rental-dominated market. The proportion of renters suggests a moderate demand for Section 8 vouchers, but it's not an area characterized by a high concentration of voucher holders.
The average market rent in this ZIP code is $894, which represents approximately 16.2% of the median household income. This figure is calculated by dividing the market rent by the median income ($894 / $55,313 * 100 = 1.62%). It means that the typical rent eats up about one-sixth of the local income, indicating that housing costs are relatively affordable compared to the income levels.
Comparing the market rent to the Fair Market Rent (FMR), which is set at $1,040 for fiscal year 2024, we can see that the actual market rent is below the FMR. This discrepancy suggests that landlords in 79080 might find themselves in a position to receive higher rent payments through Section 8 vouchers, which can cover up to the FMR level. The difference between the market rent and FMR implies potential financial benefits for landlords participating in the Section 8 program.
A landlord in ZIP 79080 should expect tenants who are likely to be low-income individuals or families, given the nature of the Section 8 program. These tenants will have their rent subsidized, with the maximum voucher amount being $1,040 per month. Landlords will need to ensure that their properties meet the Housing Quality Standards (HQS) required by the program and that they comply with the terms of the lease agreement, including regular inspections and maintenance.
In summary, while ZIP 79080 is not dominated by renters, it offers a moderate opportunity for landlords interested in Section 8 tenants. The market rent is lower than the FMR, providing a chance for landlords to receive higher rent payments through the voucher program. The expected tenant profile includes low-income individuals and families who rely on government assistance to afford housing.
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.