Location: Haskell County, TX | Metro: Abilene, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
U.S. Census Bureau data (2024)
The median income in ZIP code 79553 stands at $47,839, making it challenging for households to afford the market rate rent of $896. This figure closely aligns with the Fair Market Rent (FMR) set at $910 for the fiscal year 2024, indicating that there is little room for price negotiation based on income levels.
With 38.3% of the population renting and a total population of 3,089, the competition among landlords is moderate but significant. The affordability gap suggests that many renters may struggle to cover the full cost of rent without assistance, leading to a reliance on rental vouchers.
The FMR of $910 is slightly above the market rate, which means that voucher holders can potentially afford higher rents. However, the median income being just below both figures implies that cash-paying tenants might find it difficult to meet even the market rate without financial strain.
For landlords considering their strategy, focusing on accepting vouchers could be beneficial given the slight premium they offer over the market rate. However, it's also important to consider the administrative aspects of managing voucher tenants, including compliance and processing times. A balanced approach, where landlords accept both voucher and cash-paying tenants, may provide a stable income stream while minimizing risk.
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.