Location: Lamb County, TX | Metro: Lamb County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The ZIP code 79082, located in Texas, presents a unique scenario for both renters and landlords. With a median income of $67,440, households in this area face significant challenges in affording the local market rate rent, which is currently listed as N/A. However, when comparing this to the federal payment standard for housing vouchers, which stands at $1,010 per month (for metro areas in fiscal year 2026), the situation becomes clearer.
The voucher payment standard is designed to be affordable for low-income families. At $1,010 per month, it represents approximately 12.5% of the median annual income in ZIP 79082. This suggests that voucher recipients have a reasonable portion of their income left over for other expenses after paying rent. In contrast, the unavailability of the market rate rent data implies either a lack of comprehensive rental information or that the cost is prohibitively high for many residents.
Given that 33.3% of the population in ZIP 79082 are renters, and the total population is 382, the number of potential tenants is limited. This limitation means that landlords must be strategic in their rental pricing and tenant selection to ensure a steady stream of income. The affordability gap between the median income and the market rate rent (if higher than the voucher amount) creates a competitive environment where landlords might struggle to find tenants willing or able to pay higher rents.
For landlords considering whether to accept housing vouchers or focus on cash-paying tenants, the analysis points towards a nuanced decision. Accepting vouchers ensures a consistent, government-backed income stream, albeit at a fixed rate. Cash-paying tenants could potentially offer higher rents, but the risk of vacancy due to the limited number of renters and the overall economic conditions should be carefully weighed.
The takeaway for landlords is that while accepting vouchers might limit immediate profit margins, it provides a stable and predictable source of income in a competitive rental market. Landlords who choose to cater exclusively to cash-paying tenants must be prepared for the possibility of prolonged vacancies and adjust their pricing accordingly to remain attractive to the limited pool of renters.
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.