Location: El Paso, TX | Metro: El Paso, TX HUD Metro FMR Area
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 | $740 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $139,597 | 0.77% | D |
| 3BR | $1,470 | $174,202 | 0.84% | C |
| 4BR | $1,800 | $245,765 | 0.73% | D |
U.S. Census Bureau data (2024)
The median income in ZIP code 79838, which includes Fabens, TX, stands at $43,367. At the current market rate of $606 per month, renting an apartment is already a significant financial commitment for the average household. This figure represents nearly 17% of their annual income, leaving little room for other expenses.
To put this into perspective, let’s consider the Federal Market Rent (FMR) standard set for voucher payments in the area. For zip code 79838, the FMR for fiscal year 2024 is $910. This means that households receiving housing vouchers could potentially face an even greater affordability challenge, as the voucher payment standard is higher than the market rate by $304 per month. The disparity between the median income and the voucher payment standard highlights a critical issue: many residents may struggle to find housing that meets both their budget and the voucher requirements.
In ZIP 79838, where 27.4% of the 4,969 population are renters, the affordability gap poses a direct challenge to landlord competition. Landlords who offer units at or below the market rate of $606 will attract a larger pool of potential tenants, including those on tight budgets. However, those aiming to meet the voucher payment standard of $910 might find fewer takers, as it exceeds what many local households can comfortably afford.
Takeaway for landlords: To maximize occupancy rates and reduce vacancy periods, consider offering units at the lower market rate of $606. While accepting vouchers can bring in guaranteed income, it may also limit your tenant pool to those who can secure a voucher, which often comes with additional administrative burdens. Balancing these strategies based on the local economic conditions and tenant demand will be key to success in this market.
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.