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 Section 8 market analysis for ZIP code 79954, located within the El Paso, TX HUD Metro FMR Area, reveals key insights for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area is set at $1150 for the fiscal year 2024. However, the lack of available market rent data makes it challenging to directly compare the FMR against current market rates. Despite this limitation, we can infer that voucher tenants will likely cashflow at the FMR rate in this region.
To derive the rent-to-price ratio, we would typically use the median home value. Unfortunately, the median home value for ZIP 79954 is also unavailable. This absence of data hampers our ability to provide a precise rent-to-price ratio, which is crucial for understanding the broader housing market dynamics. Nevertheless, the stability provided by Section 8 vouchers ensures consistent rental income, mitigating some risks associated with fluctuating market rents.
The median days on market (DOM) and the percentage of homes that have experienced price cuts are not provided for this ZIP code. These metrics are important for assessing the local real estate market's health and how it might influence the decision between renting and buying. Without these figures, we must rely on the FMR and other available data to guide investment decisions.
In conclusion, while the exact market rent and median home value are unknown, the HUD FMR of $1150 suggests that voucher tenants will cashflow in this area, particularly in units that align closely with the FMR. The strongest angle for investors in ZIP 79954 remains the stability offered by Section 8 tenancy, ensuring predictable and reliable rental income over time.
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.