Location: Lamb County, TX | Metro: Lubbock, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 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)
The ZIP code 79313, located in Lamb County, TX, presents a strategic opportunity for Section 8 landlords and small-portfolio investors. The Fair Market Rent (FMR) for ZIP 79313 in fiscal year 2024 is set at $1120, which exceeds the current market rent of $920. This creates a positive spread of $200 per month, making it a strong cash-flow anchor. Additionally, the median home value in ZIP 79313 is $147,478, aligning well with the FMR and providing a stable base for rental income.
The lack of significant appreciation potential is evident given the N/A% price-cut share and N/A-day days on market (DOM), suggesting limited growth in property values. Instead, the focus should be on the steady rental income provided by the Section 8 program. With a 24.4% renter share and a median income of $62,788, there is a notable demand for affordable housing, further supporting the viability of a cash-flow anchor strategy.
To summarize, ZIP 79313 is best suited as a cash-flow anchor in a Section 8 portfolio. The substantial difference between the FMR and market rent ensures consistent positive cash flow, while the stable median home value offers security against market fluctuations. Although appreciation may not be a key driver here, the reliable income stream makes it an attractive option for investors seeking stability.
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.