Location: Abilene, TX | Metro: Abilene, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,170 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,600 |
| 3 Bedrooms | $2,080 |
| 4 Bedrooms | $2,460 |
| 5 Bedrooms | $2,854 |
| 6 Bedrooms | $3,196 |
| 7 Bedrooms | $3,452 |
| 8 Bedrooms | $3,625 |
U.S. Census Bureau data (2024)
The ZIP code 79607 stands out due to its unique characteristics. With only 3,315 residents, it has an exceptionally high rental rate of 99.0%, indicating that almost every household in the area rents their residence. The median income for these residents is $62,637, which suggests a moderate economic standing. However, the median home value is listed as N/A, further emphasizing the predominantly rental nature of the housing market in this ZIP.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 79607 is set at $1,470 for fiscal year 2024. This figure is slightly higher than the average market rent of $1,399 reported by the Census Bureau's American Community Survey (ACS). Landlords and small-portfolio investors should note that this difference can be advantageous, as it means they might receive slightly more than the typical market rate when renting to tenants with Section 8 vouchers.
The data signature for ZIP 79607 reads as stable. The high rental rate indicates a consistent demand for rental properties, which is unlikely to change drastically given the lack of home ownership. Additionally, the median income suggests that residents have sufficient financial stability to maintain steady rental payments. While the median home value being listed as N/A might imply some volatility in the housing market, the overall trend leans towards stability, particularly in the rental sector where Section 8 vouchers play a significant role.
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.