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Hockley County/Lubbock/79407

79407

ZIPSAFMR
Hockley County, TX
Zillow

ZIP Investment Score

107Above average

095130300
BRFMR
Eff. Rent
0 BR$900$990
1 BR$1,050$1,120
2 BR$1,240$1,320
3 BR$1,710$1,750
4 BR$2,050$2,260
5 BR$2,358Not available
6 BR$2,711Not available
7 BR$3,118Not available
8 BR$3,585Not available

Purchase Price Calculator

Maximum purchase price
$134,235

Cost breakdown

+Likely effective rent$1,320
HUD FMR$1,240
Market rent$1,370
Est. payment standard (107%)Used$1,320
-Principal and interest-$679
Loan amount$107,388
Down payment$26,847
Rate6.50%
Term30 years
-Operating costs-$441
Property taxes-$134
Insurance-$175
Utilities$0
HOA$0
Management-$132
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,369(79.6% ROI)
Projected value
$144,556
Return breakdown
Property appreciation+$10,321
Loan principal paid down+$3,847
Rental cash flow+$7,200
5-year hold
+$36,501(136.0% ROI)
Projected value
$151,875
Return breakdown
Property appreciation+$17,640
Loan principal paid down+$6,861
Rental cash flow+$12,000
10-year hold
+$77,946(290.3% ROI)
Projected value
$171,832
Return breakdown
Property appreciation+$37,597
Loan principal paid down+$16,349
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.76
1 BR
0.91
2 BR
0.91
3 BR
0.97
4 BR
0.80
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 79407 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 79407 (Lubbock, TX) is $1,240 a month. That is up 5.1% from $1,180 in FY 2026. Lubbock is in the Hockley County, TX HUD Metro 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 metro-wide two-bedroom FMR of $1,014. Among 11 ZIP codes in Hockley County, 79407 has the 2nd-highest two-bedroom rent (county range $1,010–$1,470). The median county two-bedroom FMR in Texas is $1,105, so ZIP 79407 is 12% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 79407
BedroomsFY 2027Change90–110% range
Studio$900+8.4%$810–$990
1BR$1,050+6.1%$945–$1,155
2BR$1,240+5.1%$1,116–$1,364
3BR$1,710+4.9%$1,539–$1,881
4BR$2,050+5.7%$1,845–$2,255

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 79407
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$900$1,050$1,240$1,710$2,050
FY 2026$830$990$1,180$1,630$1,940
FY 2025$840$1,000$1,180$1,650$1,930
FY 2024$750$900$1,070$1,490$1,760
FY 2023$680$780$950$1,330$1,560

Two-bedroom rent in nearby Hockley County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 79407
79313$1,060−14.5%
79336$1,010−18.5%
79339$1,060−14.5%
79353$1,030−16.9%
79358$1,140−8.1%
79363$1,220−1.6%
79367$1,050−15.3%
79372$1,010−18.5%
79380$1,040−16.1%
79382$1,470+18.5%
79407Current$1,240—

Questions about ZIP 79407 rents

How much will Section 8 pay for a two-bedroom in ZIP 79407?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,014, which applies unless the housing authority uses Small Area FMRs, that basic range is $913 to $1,115 a month; under the ZIP-level Small Area FMR of $1,240 it would be $1,116 to $1,364. 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 79407 in?

ZIP 79407 is in the Hockley County, TX HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,014.

How much did fair market rent change in ZIP 79407 for FY 2027?

The two-bedroom FMR rose 5.1%, from $1,180 in FY 2026 to $1,240 in FY 2027. Since FY 2023 it has risen 30.5%.

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