Location: Lubbock, TX | Metro: Lubbock, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 79406 in fiscal year 2024 is set at $1200. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, not the actual rent you will receive. The actual rent paid to you by the housing authority will be based on the market value of your property and cannot exceed this $1200 limit.
In ZIP 79406, the median rent for comparable units is currently listed as N/A. This makes it difficult to directly compare the FMR to typical market rents, but the FMR serves as an upper boundary for what is considered reasonable for the area.
The percentage of renters in ZIP 79406 who could potentially qualify for the Section 8 program is N/A%. This indicates the level of demand for subsidized housing in the area. A higher percentage suggests more potential tenants interested in Section 8, which could translate into a stronger pool of applicants for your rental property.
The average home price in the area is N/A. When acquiring a new rental property, this figure can help you estimate the initial investment required. It's important to consider both the purchase price and the ongoing costs, such as maintenance and property taxes, when deciding if Section 8 is right for you.
Before proceeding with your first Section 8 rental, ensure that your property meets all the necessary quality standards set by the housing authority. This includes passing a thorough inspection to confirm that it is safe, healthy, and up to code. Failure to meet these standards can result in penalties or disqualification from the program.
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.