Location: Gaines County, TX | Metro: Gaines County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The ZIP code 79342 has a population of 249, with only 12.8% being renters. This indicates that it is primarily a homeowner-dominated area rather than a renter-heavy ZIP. The median household income stands at $73,750, which provides a baseline for assessing rental affordability.
Given the lack of specific market rent data for ZIP 79342, we can infer that typical rents would likely be lower than the median household income, but the exact percentage cannot be calculated without that figure. However, comparing the median income to the Fair Market Rent (FMR) of $1,020, which is the amount HUD uses to set the payment standard for Section 8 vouchers, we find that the FMR represents approximately 15.2% of the median income. This suggests that residents could potentially afford higher rents than the FMR, depending on their individual financial situations.
In terms of voucher utilization, the scarcity of renters in the area implies that the demand for Section 8 vouchers might also be relatively low. Landlords in ZIP 79342 should expect tenants who are likely to have stable incomes and may not heavily rely on government assistance for housing. These tenants will probably have a good credit history and be able to meet the criteria for renting properties without the need for extensive subsidies.
To summarize, ZIP 79342 is not a strong candidate for a high-density Section 8 tenant pool due to its low percentage of renters and relatively high median income. Landlords should anticipate tenants capable of paying market rates that align closely with the FMR, ensuring steady cash flow and minimal risk associated with rental defaults.
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.