Section 8 Fair Market Rent (FMR) for ZIP 79369 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The ZIP code 79369, located in Midland, Texas, is a suburban area known for its strong oil and gas industry presence. This economic backbone influences the local real estate market, making it a unique investment opportunity for those familiar with the region's dynamics.

• The Fair Market Rent (FMR) for a two-bedroom apartment in the Midland metro area for fiscal year 2026 is set at $1,050. This figure reflects the rental value benchmark established by HUD for the area.
• The market rent data is currently unavailable (N/A), which suggests that there might be limited recent transactions or listings to provide a comprehensive view of current rental prices.
• The median home value is also marked as N/A, indicating that there is insufficient data to accurately determine the typical price of homes in this ZIP code.
• Renter share in the area stands at 0.0%, meaning that almost all residents in ZIP 79369 own their homes rather than renting. This low percentage of renters can impact the demand for rental properties.
• The days on market (DOM) data is currently unavailable (N/A), suggesting that there isn't enough recent sales activity to provide a reliable average time it takes for a property to sell.
• The median income data is marked as N/A, which means that we lack specific financial details about the average household income in the area. However, given the significant presence of the oil and gas industry, it's reasonable to infer that incomes in the area are relatively high.

In summary, ZIP 79369 presents a challenging yet potentially rewarding market for real estate investors. With a Fair Market Rent of $1,050 for a two-bedroom unit, there is a clear benchmark for pricing rental units. The absence of market rent and median home value data suggests that the area might have limited liquidity or that the real estate market is not as active as in other regions. The near-zero renter share indicates a strong homeownership preference among the population, which could limit opportunities for rental investments unless targeting specific segments such as short-term stays or corporate housing. Despite these challenges, the robust local economy, driven by the oil and gas sector, supports a stable investment environment, particularly for those who can navigate the nuances of the local market.

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.