Location: Bailey County, TX | Metro: Bailey County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
ZIP code 79324 is a renter-heavy area with 100.0% of its population renting homes. This indicates a strong potential for Section 8 tenants, who rely on housing vouchers to find affordable living spaces. Given that the median household income is not available, it's challenging to provide an exact percentage of income spent on rent; however, the lack of this figure often suggests that the majority of residents depend heavily on subsidies such as Section 8 vouchers.
The market rent in ZIP 79324 is also not specified, but comparing against the Fair Market Rent (FMR) of $990 for the upcoming fiscal year 2026, landlords can expect that typical rents should be lower or at least competitive with this benchmark to attract voucher holders. The FMR serves as a guideline for maximum rental assistance payments, so rents above this amount may deter voucher recipients unless they have additional income sources.
In terms of tenant profiles, landlords in ZIP 79324 should anticipate working with individuals and families who require housing assistance. These tenants will likely include low-income workers, the elderly, disabled individuals, and families with children. It's essential to understand that while these tenants may have limited incomes, they are required to contribute 30% to 40% of their adjusted income towards rent, ensuring a steady and reliable source of income for landlords.
To conclude, ZIP 79324 presents itself as an ideal location for landlords interested in serving a Section 8 tenant pool due to its high concentration of renters. Landlords should ensure that their rents align with the FMR to maximize their chances of attracting and retaining tenants who benefit from federal housing assistance programs.
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.