Location: Crane County, TX | Metro: Crane County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
17.3% of residents in ZIP 79731 are renters, indicating a significant portion of the population relies on rental housing. This statistic is crucial for landlords and small-portfolio investors looking to gauge demand. The Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $980, which represents the maximum amount that a Section 8 voucher holder can pay for rent. In comparison, the actual market rent, as reported by the Census ACS, stands at $882, suggesting a slightly lower average rent than the FMR cap. For those considering purchasing properties in this area, the median home value of $204,692 provides a benchmark for investment. However, the median income of $63,096 may pose challenges for potential buyers, as it indicates the average financial capacity of the local residents. Despite this, the absence of data regarding days on market (DOM) and the percentage of homes that have had their prices cut suggests a stable market without significant overpricing or prolonged vacancies. Investors should note that the difference between the FMR and market rent figures presents an opportunity to offer competitive pricing while still being within the allowable range for Section 8 vouchers. Given these factors, the verdict on Section 8 participation in ZIP 79731 is positive, with ample opportunities for landlords to provide affordable housing solutions while maintaining financial viability.
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.