Location: Odessa, TX | Metro: Odessa, 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 | $1,130 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,730 | $232,298 | 0.74% | D |
U.S. Census Bureau data (2024)
The ZIP code 79763 presents a notable opportunity for landlords and small-portfolio investors looking to attract Section 8 tenants. With a population of 35,174, nearly 30% of residents are renters, indicating a significant demand for rental properties. The median household income stands at $56,877, which provides a baseline for assessing the affordability of housing in the area.
The market rent in ZIP 79763 is currently set at $1,899 per month. This figure represents approximately 33% of the median household income, suggesting that typical rents consume a substantial portion of local incomes. However, the Fair Market Rent (FMR) for the area, as determined by HUD for FY 2024, is $1,410, indicating that the market rent is higher than the FMR. This discrepancy implies that there could be a deeper demand for voucher-assisted rentals, given the higher cost of living relative to the FMR.
The high percentage of renters and the elevated market rent compared to the FMR point towards an environment where Section 8 vouchers are likely to be in high demand. Landlords can expect a tenant pool that includes individuals and families who rely on government assistance to afford housing. These tenants will typically have their rent subsidized up to the FMR level, meaning landlords could see a consistent, reliable source of income through voucher programs.
To summarize, ZIP 79763 is a renter-heavy area with a strong likelihood of deep voucher demand. The typical rent eats about one-third of the local median income, making it a challenging market for those without financial assistance. Landlords should prepare for a tenant base that is reliant on Section 8 vouchers to meet housing costs, ensuring they understand the requirements and benefits of participating in such programs.
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.