Section 8 Fair Market Rent (FMR) for ZIP 79535 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The ZIP code 79535, located in the heart of Midland, Texas, is a thriving area known for its robust oil and gas industry, which drives economic activity and influences local real estate markets. This analysis provides insights into the current state of the rental market and housing values, along with demographic data that can inform investment decisions.

• Fair Market Rent (FMR): The Fair Market Rent for ZIP 79535 is set at $1,010 for the fiscal year 2026, reflecting the average cost for a modest apartment in the area.
• Renter Share: Only 5.7% of the population are renters, indicating a strong preference for homeownership among residents.
• Median Income: The median household income in the area is $68,036, suggesting that residents have a stable financial footing, though this does not directly correlate with rental demand.
• Market Rent: Unfortunately, the specific market rent for ZIP 79535 is not available, which makes it challenging to compare against the FMR and gauge the actual rental rates.
• Median Home Value: Data on the median home value is also unavailable, making it difficult to assess the overall housing market value in the area.
• Days on Market (DOM): Information regarding the average days a property remains on the market before being sold is not available, which could be crucial for understanding how quickly properties are turning over in the area.

Given the data points available, the primary takeaway for investors is that ZIP 79535 presents a rental market with limited demand, as evidenced by the low renter share. However, the relatively high FMR of $1,010 suggests that there is still potential for rental income stability. The strong median income figure indicates that residents are financially capable of maintaining their homes, but the lack of detailed market rent and median home value data leaves some uncertainty about the precise dynamics of the local real estate market. Landlords and small-portfolio investors should focus on understanding the specific needs of the local rental market and consider the long-term stability provided by the area's economic base.

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.