Location: Motley County, TX | Metro: Lubbock, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
33.0% of residents in ZIP 79235 are renters, indicating a significant demand for rental properties in the area. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $920, which is notably higher than the reported market rent of $540 based on Census ACS data. This discrepancy suggests that landlords participating in the Section 8 program can expect to receive above-average rental income compared to the local market.
$74,257 is the median home value in ZIP 79235, reflecting the overall affordability of the housing market. However, the median income of $52,935 may limit the purchasing power of many residents, making affordable rental options particularly attractive.
The lack of data on days on market (DOM) and the percentage of price-cut shares indicates stability in the real estate market, without significant fluctuations in property values or prolonged periods where homes are unsold. This stability can be beneficial for both landlords and small-portfolio investors, as it reduces the risk of sudden drops in property values.
Given the $920 FMR, landlords can secure reliable rental income through the Section 8 program, which exceeds the typical market rent of $540. With 33.0% of the population being renters and a median income of $52,935, there is a strong base of potential tenants who qualify for the program. The median home value of $74,257 also supports the idea that the area is affordable, further justifying the investment in rental properties.
Section 8 Verdict: ZIP 79235 presents a favorable environment for landlords and small-portfolio investors, with a high FMR and substantial tenant demand.
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.