Location: El Paso, TX | Metro: El Paso, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
The rent math for ZIP 79929 in the El Paso, TX HUD Metro FMR Area does not provide a clear picture due to the lack of specific market rent data. The Fair Market Rent (FMR) set at $1150 for the fiscal year 2024 is the benchmark for comparison, but without knowing the actual market rent, it's challenging to determine if the rent math works favorably for landlords.
Regarding the affordability of acquisition, the absence of specific data on median home values, days on market (DOM), and the percentage of homes that have had their prices cut makes it impossible to offer a precise analysis. Landlords and small-portfolio investors would need detailed information on these metrics to assess whether purchasing properties in this area is financially viable.
Tenant demand in ZIP 79929 can be gauged by the available population and renter share percentages, but since these figures are not provided, a definitive conclusion cannot be drawn. A high percentage of renters typically indicates strong demand for rental properties, which is crucial for investment success.
Verdict: Investing in ZIP 79929 presents an incomplete picture due to missing critical data points such as market rent, median home values, days on market, and the percentage of homes with price reductions. Without these specifics, it's difficult to make informed decisions regarding the profitability of rental properties and the feasibility of property acquisitions. Landlords and small-portfolio investors should seek out comprehensive local real estate reports and consult with local realtors to fill in these gaps before making any investment decisions.
Data Sources: FMR data from HUD (2027).
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.