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 Fair Market Rent for ZIP 79950 in fiscal year 2024 is set at $1150. This figure represents the average rent for a standard unit in the area, which is useful for landlords and small-portfolio investors considering the Section 8 housing voucher program.
Unfortunately, the exact market rent and home values are not provided, making it challenging to compare these figures directly with the FMR. Typically, the FMR is used as a benchmark to ensure that rents are affordable for low-income households. In this context, landlords should aim to keep their rental rates close to or slightly below the FMR to attract tenants eligible for Section 8 vouchers.
Regarding stability, the lack of data on the percentage of renters, average days on market, and median household income means we cannot make a precise determination. These factors would typically help us understand the volatility of the rental market and the financial health of potential tenants. Without this information, it's difficult to classify the ZIP code as either high-yield/low-stability or steady-cashflow.
However, given that there are listings on platforms like Zillow and Trulia, we can infer that there is some level of activity in the real estate market. This suggests that while the area may not be highly speculative, it does offer opportunities for steady cash flow if the rental rates are competitive and the properties are well-managed.
To better assess the yield and stability of ZIP 79950, additional research is recommended to gather more comprehensive data on market conditions and tenant demographics. This will provide a clearer picture of whether the area leans towards being a high-yield/low-stability market or a more stable cash-flow zone.
In conclusion, ZIP 79950 appears to be a moderate market, neither extremely volatile nor exceptionally stable. Landlords should focus on maintaining competitive rental rates around the FMR of $1150 and consider the broader El Paso market trends to make informed 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.