Location: Motley County, TX | Metro: Floyd County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $1,020 for ZIP 79234 in fiscal year 2026 will adequately cover the mortgage on a typical home in the area. The data does not provide a specific figure for the average home price or typical mortgage payments in ZIP 79234, making it difficult to definitively state if this FMR will cover the mortgage. However, landlords should consider that FMRs are set to ensure affordable housing options and are often adjusted to reflect local economic conditions.
The next objection could be regarding the renter demand in ZIP 79234, which stands at 25.0%. This percentage represents the share of households that rely on rental assistance. While this figure is relatively low compared to some metropolitan areas, it still indicates a significant portion of the population that requires affordable housing solutions. It's important to note that even with a lower percentage, the absolute number of renters can still be substantial depending on the total population size of the ZIP code. Landlords should also consider that those who do not receive rental assistance may still be interested in properties that fall under the FMR threshold.
A final concern might be whether the housing vouchers will keep pace with the market rents in ZIP 79234. Unfortunately, the data provided does not include specifics on voucher amounts or trends in voucher allocation. Typically, voucher programs aim to cover a significant portion of the rent but may not always match the exact FMR due to funding constraints and other administrative factors. Landlords should stay informed about local HUD guidelines and adjustments to ensure they understand how voucher amounts might affect their rental income.
To summarize, while the data does not fully address every concern an investor might have, it provides a basis for understanding the potential challenges and opportunities in ZIP 79234. Landlords should carefully evaluate these factors alongside other local economic indicators before making investment decisions.
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.