Location: Lynn County, TX | Metro: Lubbock, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 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 economics of Section 8 housing in ZIP code 79381 are defined by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $920 for the fiscal year 2024. This rate is specifically tailored for this ZIP code, reflecting the unique rental market conditions here.
To understand how this impacts a landlord, it's important to break down the components of a Section 8 voucher payment. The voucher itself covers the difference between what a tenant can afford and the SAFMR. A tenant's contribution is generally 30% of their adjusted monthly income. If we assume an average household income of $2,000 per month, the tenant would contribute approximately $600 towards rent.
The remaining amount, which is the subsidy from the Housing Choice Voucher program, would then be calculated as follows:
This means the landlord receives $600 directly from the tenant and an additional $320 subsidy from the government, totaling $920 per month for a two-bedroom unit. It's also worth noting that the SAFMR includes an allowance for utilities, which can vary but typically ranges from $150 to $250 per month depending on the size of the unit and the region. For simplicity, let's use an average utility allowance of $200.
In ZIP 79381, the SAFMR does not reflect the local market rent, as indicated by the "N/A" placeholder, suggesting that market rates could be higher or lower than the SAFMR. However, the voucher system ensures that the total rent paid (tenant contribution plus subsidy) will not exceed the SAFMR of $920.
Given these specifics, landlords should anticipate a reimbursement gap if market rents exceed $920. Conversely, if the local market rent is below $920, landlords may see a surplus. In ZIP 79381, with an SAFMR of $920 and assuming a tenant contribution of $600 and a utility allowance of $200, the landlord's net income from a Section 8 tenant would be $920 per month. If the local market rent is higher than $920, landlords must consider the economic implications of accepting a Section 8 tenant versus renting at market rates.
In summary, landlords in ZIP 79381 can expect a consistent monthly income of $920 from a two-bedroom Section 8 voucher tenant, regardless of the local market rent. The reimbursement gap or surplus depends on whether the local market rent exceeds or falls below the SAFMR of $920.
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.