Lubbock County/Lubbock/79416

79416

ZIPSAFMR

Lubbock County, TX

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ZIP Investment Score

94Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$980	$1,080	3.3%
1 BR	$1,150	$1,150	2.8%
2 BR	$1,360	$1,200	2.3%
3 BR	$1,880	$1,560	2.0%
4 BR	$2,250	$2,060	2.5%
5 BR	$2,588	Not available	2.5%
6 BR	$2,976	Not available	2.5%
7 BR	$3,422	Not available	2.5%
8 BR	$3,935	Not available	2.5%

Purchase Price Calculator

Maximum purchase price

$116,403

Cost breakdown

+Likely effective rent$1,200

HUD FMR$1,360

Market rentUsed$1,200

Est. payment standard (92%)$1,260

-Principal and interest-$589

Loan amount$93,122

Down payment$23,281

Rate6.50%

Term30 years

-Operating costs-$411

Property taxes-$116

Insurance-$175

Utilities$0

HOA$0

Management-$120

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$19,487(83.7% ROI)

Projected value

$125,353

Return breakdown

Property appreciation+$8,950

Loan principal paid down+$3,336

Rental cash flow+$7,200

5-year hold

+$33,246(142.8% ROI)

Projected value

$131,699

Return breakdown

Property appreciation+$15,296

Loan principal paid down+$5,950

Rental cash flow+$12,000

10-year hold

+$70,780(304.0% ROI)

Projected value

$149,006

Return breakdown

Property appreciation+$32,603

Loan principal paid down+$14,177

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.80ratio

FMR$980

Market$1,230

vs market-$250

FMR is below market; voucher rent may lag private rents.

0.80

1 BR

1.00ratio

FMR$1,150

Market$1,150

vs market+$0

FMR is near market; voucher and private rents are aligned.

1.00

2 BR

1.13ratio

FMR$1,360

Market$1,200

vs market+$160

FMR is above market; underwrite to market rent.

1.13

3 BR

1.21ratio

FMR$1,880

Market$1,560

vs market+$320

FMR is above market; underwrite to market rent.

1.21

4 BR

1.09ratio

FMR$2,250

Market$2,060

vs market+$190

FMR is near market; voucher and private rents are aligned.

1.09

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 79416 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 79416 (Lubbock, TX) is $1,360 a month. That is up 5.4% from $1,290 in FY 2026. Lubbock is in the Lubbock, 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 $1,241. Among 35 ZIP codes in Lubbock County, 79416 has the 5th-highest two-bedroom rent (county range $1,060–$1,470). The median county two-bedroom FMR in Texas is $1,105, so ZIP 79416 is 23% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 79416
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$900	$980	+8.9%	$882–$1,078
1BR	$1,090	$1,150	+5.5%	$1,035–$1,265
2BR	$1,290	$1,360	+5.4%	$1,224–$1,496
3BR	$1,790	$1,880	+5.0%	$1,692–$2,068
4BR	$2,130	$2,250	+5.6%	$2,025–$2,475

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 79416
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$980	$1,150	$1,360	$1,880	$2,250
FY 2026	$900	$1,090	$1,290	$1,790	$2,130
FY 2025	$920	$1,110	$1,320	$1,840	$2,160
FY 2024	$890	$1,060	$1,270	$1,770	$2,090
FY 2023	$840	$960	$1,170	$1,640	$1,920

Two-bedroom rent in nearby Lubbock County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 79416
79407	$1,240	−8.8%
79408	$1,240	−8.8%
79409	$1,240	−8.8%
79410	$1,440	+5.9%
79411	$1,060	−22.1%
79412	$1,090	−19.9%
79413	$1,440	+5.9%
79414	$1,220	−10.3%
79415	$1,060	−22.1%
79416Current	$1,360	—
79423	$1,400	+2.9%
79424	$1,250	−8.1%

Questions about ZIP 79416 rents

How much will Section 8 pay for a two-bedroom in ZIP 79416?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,241, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,117 to $1,365 a month; under the ZIP-level Small Area FMR of $1,360 it would be $1,224 to $1,496. 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 79416 in?

ZIP 79416 is in the Lubbock, TX HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,241.

How much did fair market rent change in ZIP 79416 for FY 2027?

The two-bedroom FMR rose 5.4%, from $1,290 in FY 2026 to $1,360 in FY 2027. Since FY 2023 it has risen 16.2%.

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 rent Lubbock, TX fair market rent TX statewide rents What is SAFMR?Data sources