Location: Runnels County, TX | Metro: Abilene, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,530 |
| 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)
21.4% of residents in ZIP code 79530 are renters, indicating a notable demand for rental properties in the area. The Fair Market Rent (FMR) for Section 8 housing in this ZIP code for fiscal year 2024 is set at $920, which is significantly below the $1,100 average market rent reported by the Census ACS. This difference suggests that landlords participating in the Section 8 program can still attract tenants while receiving government-subsidized payments.
$200,477 is the median home value in 79530, reflecting a stable real estate market. However, the median income of $71,979 might limit the purchasing power of many residents, making rental options more attractive. Given the lower FMR compared to market rents, Section 8 vouchers provide an essential service to those who cannot afford higher rents.
N/A-day DOM and N/A% price-cut share indicate incomplete data on days on market and the percentage of homes that required price reductions. Despite this, the disparity between the FMR and market rent rates clearly shows that Section 8 can be a viable option for landlords looking to fill vacancies without reducing their rental income drastically.
The verdict for Section 8 participation in ZIP 79530 is positive, given the alignment of FMR with the local rental market and the potential to serve a significant portion of the population that relies on government assistance for housing.
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.