Section 8 Fair Market Rent (FMR) for ZIP 79713 - 2027

Location: Howard County, TX | Metro: Martin County, TX HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,290
1 Bedroom	$1,300
2 Bedrooms	$1,600
3 Bedrooms	$2,000
4 Bedrooms	$2,460
5 Bedrooms	$2,854
6 Bedrooms	$3,196
7 Bedrooms	$3,452
8 Bedrooms	$3,625

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

840

Median Household Income

$64,886

Housing Units

290

Renter Percentage

22.7%

Occupancy Rate

85.2%

Renter Occupied

The ZIP code 79713, located in Midland, Texas, is characterized by its strong economic base, driven primarily by the oil and gas industry. This sector's influence on the local economy is significant, providing stable employment and income levels that support a robust rental market.

The Fair Market Rent (FMR) for ZIP 79713 in fiscal year 2024 is set at $910, indicating a moderate rental price point that aligns with the area's economic conditions.
The median home value is not available, suggesting that the market may be heavily skewed towards renters rather than homeowners, which is supported by the 22.7% renter share of the population.
The median income in the area is $64,886, providing tenants with a solid financial foundation to sustain rental payments at the established FMR.
Although the market rent is not available, the high renter share suggests that there is a consistent demand for rental properties in the area, making it a viable investment opportunity.
The average number of days on the market (DOM) is not available, but given the economic stability and strong employment base, it is reasonable to expect that rental units in ZIP 79713 will not remain vacant for long periods.
The presence of a substantial oil and gas industry in the region ensures a steady flow of jobs, contributing to the overall economic health and supporting the rental market.

Investors looking to enter the rental market in ZIP 79713 can expect a moderate level of competition with a reliable tenant pool due to the area's economic stability and strong employment base. The established FMR of $910 provides a clear benchmark for pricing rental units, while the median income of $64,886 ensures that tenants have the means to pay rent consistently. The high renter share of 22.7% indicates a strong demand for rental housing, making it a promising investment for those willing to navigate the specific dynamics of this market.

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.