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 |
ZIP code 79942, located within the El Paso, TX HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1150 for fiscal year 2024. This figure is key for understanding the rental market dynamics in this area compared to other ZIP codes in El Paso. The lack of specific market rent and home value data for 79942 makes direct comparisons challenging, but we can infer some insights based on the FMR.
The FMR of $1150 suggests that 79942 is likely a value pocket within the El Paso metro area. To contextualize this, let's consider typical FMR ranges for ZIP codes in El Paso. Generally, FMRs across different ZIP codes in El Paso vary, with some areas having higher rents due to their proximity to city centers or amenities. However, an FMR of $1150 indicates that 79942 offers relatively affordable housing options, which could be attractive to low-income renters participating in the Section 8 program.
The absence of market rent data implies that there might not be significant private rental listings available, which could mean that the area is predominantly subsidized housing or has a lower overall rental activity. Similarly, the lack of home value data suggests limited sales activity, possibly indicating a focus on rental properties over owner-occupied homes.
Given the FMR and the missing market rent and home value data, it is reasonable to infer that 79942 is an area where rental costs are closely aligned with government subsidies, making it a value pocket for those eligible for assistance. The unknown percentage of renter share adds another layer of uncertainty but does not detract from the affordability signal provided by the FMR. If the renter share were indeed high, it would further reinforce the idea that this ZIP code is well-suited for Section 8 participants seeking affordable housing options.
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.