Location: Dickens County, TX | Metro: Lubbock, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,080 |
| 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)
The ZIP code 79243 is a moderate renter-heavy area with 20.0% of its population renting homes. This indicates a significant portion of residents who could potentially be seeking housing through Section 8 vouchers. The median household income in this ZIP stands at $61,250, which provides a baseline for assessing the affordability of rental properties.
Though market rent figures are currently unavailable, we can infer from the Fair Market Rent (FMR) data that typical rents would likely consume a substantial portion of local incomes. For FY 2024, the FMR for ZIP 79243 is set at $920. Assuming market rents align closely with FMRs, a household earning the median income would spend approximately 18.2% of their annual income on rent alone. This percentage reflects a reasonable allocation towards housing but underscores the importance of Section 8 vouchers for lower-income families.
A landlord in ZIP 79243 should anticipate a tenant pool that includes a mix of individuals and families relying on Section 8 vouchers. These tenants will be looking for affordable housing options that fit within the voucher limits. It's important to note that while the ZIP has a noticeable number of renters, it is not dominated by them, suggesting a balance between homeowners and renters. This balance means that landlords might face some competition for voucher holders but also have a broader potential tenant base.
To effectively attract and retain tenants in this area, landlords must ensure their properties meet the necessary standards for Section 8 participation. This includes maintaining competitive pricing relative to the FMR and ensuring compliance with health and safety regulations. By doing so, landlords can tap into the demand for subsidized housing while providing quality living spaces that meet the needs of their tenants.
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.