Location: Glasscock County, TX | Metro: Midland, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,320 |
| 1 Bedroom | $1,410 |
| 2 Bedrooms | $1,790 |
| 3 Bedrooms | $2,160 |
| 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 higher FMR compared to the market rent makes ZIP 79782 an attractive area for landlords and small-portfolio investors who wish to participate in a yield play. The 17.5% of renters in this area can benefit from the housing voucher program, which guarantees a steady income stream for property owners. Despite the lower market rent, landlords can charge closer to the FMR, thereby maximizing their returns.
However, it's important to anchor this analysis in the broader context of ZIP 79782. With a median home value of $249,199 and a median income of $102,986, the financial landscape suggests that while the area may be lucrative for those seeking to capitalize on the Section 8 program, it also presents challenges. The cost of housing voucher tenants below open-market rates could result in a loss if property owners do not manage their expenses carefully. This is particularly relevant given the relatively high median home value and median income levels, which might indicate a higher cost of living and maintenance.
In summary, the gap between FMR and market rent in ZIP 79782 represents a potential yield play for investors. However, they must be aware of the costs associated with maintaining properties at a level suitable for housing voucher tenants, especially considering the financial context of the area.
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.