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Hill County/Penelope/76676

76676

ZIPSAFMR
Hill County, TX
Zillow

ZIP Investment Score

83Below average

095130300
BRFMR
Eff. Rent
0 BR$840$840
1 BR$910$910
2 BR$1,140$1,140
3 BR$1,580$1,580
4 BR$1,780$1,780
5 BR$2,047Not available
6 BR$2,354Not available
7 BR$2,707Not available
8 BR$3,113Not available

Purchase Price Calculator

Maximum purchase price
$107,487

Cost breakdown

+Likely effective rent$1,140
HUD FMRUsed$1,140
Market rentN/A
Est. payment standardN/A
-Principal and interest-$544
Loan amount$85,990
Down payment$21,497
Rate6.50%
Term30 years
-Operating costs-$396
Property taxes-$107
Insurance-$175
Utilities$0
HOA$0
Management-$114
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,546(86.3% ROI)
Projected value
$115,752
Return breakdown
Property appreciation+$8,265
Loan principal paid down+$3,081
Rental cash flow+$7,200
5-year hold
+$31,619(147.1% ROI)
Projected value
$121,612
Return breakdown
Property appreciation+$14,125
Loan principal paid down+$5,494
Rental cash flow+$12,000
10-year hold
+$67,196(312.6% ROI)
Projected value
$137,592
Return breakdown
Property appreciation+$30,105
Loan principal paid down+$13,091
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 76676 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 76676 (Penelope, TX) is $1,140 a month. That is up 4.6% from $1,090 in FY 2026. Penelope is in the Hill County, TX non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,080. Among 19 ZIP codes in Hill County, 76676 has the 10th-highest two-bedroom rent (county range $1,010–$1,460). The median county two-bedroom FMR in Texas is $1,105, so ZIP 76676 is 3% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 76676
BedroomsFY 2027Change90–110% range
Studio$840+10.5%$756–$924
1BR$910+7.1%$819–$1,001
2BR$1,140+4.6%$1,026–$1,254
3BR$1,580+6.8%$1,422–$1,738
4BR$1,780−1.1%$1,602–$1,958

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 76676
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$840$910$1,140$1,580$1,780
FY 2026$760$850$1,090$1,480$1,800
FY 2025$660$750$950$1,240$1,560
FY 2024area FMR$680$789$1,003$1,313$1,595
FY 2023area FMR$590$695$882$1,171$1,373

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Hill County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 76676
76631$1,190+4.4%
76636$1,010−11.4%
76645$1,100−3.5%
76648$1,020−10.5%
76650$1,090−4.4%
76660$1,050−7.9%
76666$1,150+0.9%
76670$1,100−3.5%
76673$1,240+8.8%
76676Current$1,140—
76691$1,150+0.9%
76692$1,110−2.6%

Questions about ZIP 76676 rents

How much will Section 8 pay for a two-bedroom in ZIP 76676?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,080, which applies unless the housing authority uses Small Area FMRs, that basic range is $972 to $1,188 a month; under the ZIP-level Small Area FMR of $1,140 it would be $1,026 to $1,254. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 76676 in?

ZIP 76676 is in the Hill County, TX non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,080.

How much did fair market rent change in ZIP 76676 for FY 2027?

The two-bedroom FMR rose 4.6%, from $1,090 in FY 2026 to $1,140 in FY 2027. Since FY 2025 it has risen 20.0%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentPenelope, TX fair market rentTX statewide rentsWhat is SAFMR?Data sources