Location: Abilene, TX | Metro: Abilene, TX MSA
| 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 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 79699 is currently characterized by several key metrics that provide insight into future market trends. With the median home value being unavailable, it's crucial to look at other indicators such as the percentage of listings that have been reduced and the median days on market (DOM). These figures are also currently marked as N/A, which suggests a lack of recent transactional data and could indicate either a very stable market or one with limited activity.
Despite the absence of specific dollar figures for home values and reduced listings, the setup points toward a market where pricing power might be somewhat diminished. In a stable market, where fewer homes are listed at reduced prices and DOM is relatively short, sellers typically hold stronger leverage. However, without concrete numbers, we cannot definitively state the direction of pricing power.
On the rental side, the Fair Market Rent (FMR) for ZIP 79699 in fiscal year 2024 is set at $970. This figure serves as a benchmark for rental prices but does not reflect the current market rate, which is also listed as N/A. The discrepancy between the FMR and the actual market rate can imply several scenarios. If the market rate is below the FMR, there might be an opportunity for landlords to increase rents slightly without risking tenant turnover. Conversely, if the market rate exceeds the FMR, it signals strong demand for rentals, which could support higher rents and potentially attract more investors.
For long-hold investors considering ZIP 79699, the realistic appreciation thesis hinges on broader economic factors and local development. Without detailed historical data or current market rates, pinpointing an exact appreciation rate is challenging. However, the combination of stable home values and a rental market that aligns with or surpasses the FMR suggests a solid foundation for investment. Long-term appreciation is likely to follow general economic growth trends and any significant local developments that boost property values.
The current setup implies a balanced market with potential for both housing and rental appreciation, contingent upon external economic influences and local conditions. Landlords and small-portfolio investors should focus on maintaining competitive rental rates and being prepared for gradual changes in the housing market based on broader economic indicators.
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.