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 | $148,505 | 0.73% | D |
| 3BR | $1,470 | $176,483 | 0.83% | C |
| 4BR | $1,800 | $211,437 | 0.85% | C |
U.S. Census Bureau data (2024)
980 is the Fair Market Rent (FMR) for ZIP code 79915 in El Paso, TX, for fiscal year 2024. This figure represents the upper limit for Section 8 rental payments in the area. In contrast, the Zillow Observed Rent Index (ZORI) stands at 1,061, indicating that market rents are slightly higher than the government-set threshold. The median home value in this ZIP code is 170,123, which suggests that property values are relatively low compared to the national average, offering potential for cost-effective investments. 38.6% of the residents in ZIP 79915 are renters, highlighting a significant demand for affordable housing options. The median income is 35,432, which is below the national median, underscoring the need for subsidized housing programs such as Section 8. The data does not provide a specific day DOM (Days on Market), but it indicates that there is a 0.2% price-cut share, suggesting that properties are generally selling without significant price reductions.
Given these figures, landlords and small-portfolio investors can expect a steady demand for rental units in ZIP 79915. The gap between the FMR and the ZORI implies that landlords participating in the Section 8 program can still charge market rates while receiving government subsidies for their tenants. The relatively low median home value also means that purchasing investment properties in this area could be financially advantageous. Additionally, the low median income and high renter share point to a population heavily reliant on affordable housing solutions, making the Section 8 program particularly relevant and necessary.
The verdict for Section 8 participation in ZIP 79915 is positive, as it aligns well with the local economic conditions and rental market dynamics, providing a stable and reliable source of income for landlords and ensuring access to affordable housing for low-income residents.
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.