Location: Shackelford County, TX | Metro: Abilene, TX MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $940 | $110,987 | 0.85% | C |
| 2BR | $1,180 | $137,544 | 0.86% | C |
| 3BR | $1,540 | $249,766 | 0.62% | D |
| 4BR | $1,820 | $306,997 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 79601 in Abilene, TX, presents a dynamic rental market with clear indicators of how supply and demand interact. The Fair Market Rent (FMR) for the area, set at $970 for fiscal year 2024, serves as a benchmark for affordable housing standards. This figure contrasts with the actual market rent, known as the Zillow Observed Rental Index (ZORI), which stands at $2,012. This significant gap suggests that the market rent is considerably higher than what is considered fair market value, indicating strong demand among renters.
A key metric in understanding the rental market is the percentage of listings that require a price cut. In ZIP 79601, only 0.2% of listings have been marked down, a very low number that points to a robust market where properties are likely selling close to their asking price. Additionally, the days on market (DOM) statistic of 18 days shows that homes are moving quickly once they come onto the market, another sign of demand outpacing supply.
The median home value in ZIP 79601 is $204,728, which reflects the overall affordability of homeownership in the area. However, with 50.8% of residents being renters, there's a substantial portion of the population relying on the rental market, creating sustained long-term pressure on housing availability. This high renter share implies a continuous need for rental units, supporting the notion that demand remains high.
In summary, ZIP 79601 exhibits characteristics of a market where demand is outpacing supply. The quick turnover of rental listings, the minimal need for price cuts, and the significant proportion of renters all contribute to a vibrant rental sector. Landlords and small-portfolio investors should take note of these dynamics, as they suggest an ongoing opportunity to capitalize on the local housing needs.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.