Location: Borden County, TX | Metro: Lubbock, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 79356 reveals a mixed picture when it comes to rental yield and market stability. On the yield front, the Federal Market Rent (FMR) for 2024 is set at $920, which is higher than the local market rate of $830. This suggests that landlords can potentially charge a premium over the typical rent in the area, leading to higher yields. Additionally, the median home value stands at $111,283, which is relatively low compared to the FMR, indicating that the area might be more affordable for investors looking to purchase properties.
Regarding stability, the ZIP code shows a 28.8% share of renters, which is not particularly high but does indicate a decent level of demand for rentals. The lack of data on the average number of days on market (DOM) makes it challenging to assess how quickly properties are rented out. However, the median household income of $46,351 provides insight into the financial capacity of potential tenants. While this figure is lower than the national average, it still supports the viability of renting properties in this area.
Based on these figures, ZIP 79356 appears to be a moderate-stability, moderate-yield market. It's not a high-yield/low-stability flip-style market due to the relatively low proportion of renters and the absence of high DOM figures, which would typically indicate a less stable market. At the same time, it's not a steady-cashflow zone because the income levels are below average, which could affect the reliability of rent payments. The potential for slightly higher rents than the market rate, coupled with a reasonable demand for rentals, suggests that this ZIP code offers opportunities for investors seeking a balance between yield and 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.