Location: Abilene, TX | Metro: Abilene, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 79541 in fiscal year 2024 is set at $1070. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you'll receive; rather, it's the payment standard used by the Housing Choice Voucher Program to determine the maximum allowable rent.
To put this into perspective, let's compare it to the local market conditions. The median rent in this area is currently not available, which suggests limited data on typical rental rates. However, given the 15.6% share of renters in the area, there is a significant demand for affordable housing options. This percentage indicates that over one in every seven residents is likely seeking rental accommodation, making ZIP 79541 a viable market for Section 8 rentals.
The median home value in ZIP 79541 is $437,541. For a potential investor looking to acquire a property for Section 8, this figure serves as a benchmark for the initial investment required. While the median home value is higher than the FMR, it's crucial to focus on the rental income potential rather than the property's market value when considering Section 8 investments.
Before finalizing your decision to enter the Section 8 market in ZIP 79541, ensure that the property meets all necessary inspection criteria. The Housing Authority will conduct an inspection to confirm that the property is safe, decent, and sanitary. Failure to meet these standards can result in disqualification from the program, regardless of the property's location or value.
In summary, the FMR of $1070 sets the maximum allowable rent for Section 8 tenants, while the 15.6% renter share indicates strong demand. With a median home value of $437,541, acquiring a suitable property for the program is feasible. However, the key to success lies in ensuring that your property passes the Housing Authority's inspection requirements.
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.