Location: Knox County, TX | Metro: Knox County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The ZIP code 79505 represents a small, tightly-knit community with a total population of 266 residents. In this area, nearly 40% of the inhabitants are renters, indicating a significant demand for rental properties. The median household income stands at $52,708, which suggests a modest but stable economic base. However, it's important to note that the median home value is not available, which could imply that the majority of the housing stock is rental units rather than owner-occupied homes.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. This figure contrasts sharply with the actual market rent, which is recorded at $527 according to the Census American Community Survey (ACS). This discrepancy highlights an opportunity for landlords and investors who can leverage the lower market rents to offer competitive pricing while still maintaining profitability.
Given these parameters, ZIP 79505 might be suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the area's reliance on vouchers, coupled with the relatively low market rents, provides a steady stream of income without the need for extensive property management. On the other hand, hands-on investors could find opportunities to improve properties and potentially increase rents closer to the FMR, thereby enhancing their returns. The key lies in understanding the local market dynamics and the specific needs of tenants in this ZIP code.
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.