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Midland County/Midland/79701

79701

ZIPSAFMR
Midland County, TX
Zillow

ZIP Investment Score

117Above average

095130300
BRFMR
Eff. Rent
0 BR$1,290$1,260
1 BR$1,320$1,350
2 BR$1,680$1,670
3 BR$2,080$2,290
4 BR$2,410$2,480
5 BR$2,772Not available
6 BR$3,187Not available
7 BR$3,665Not available
8 BR$4,215Not available

Purchase Price Calculator

Maximum purchase price
$186,245

Cost breakdown

+Likely effective rent$1,670
HUD FMR$1,680
Market rentUsed$1,670
Est. payment standard (100%)$1,670
-Principal and interest-$942
Loan amount$148,996
Down payment$37,249
Rate6.50%
Term30 years
-Operating costs-$528
Property taxes-$186
Insurance-$175
Utilities$0
HOA$0
Management-$167
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,859(72.1% ROI)
Projected value
$200,565
Return breakdown
Property appreciation+$14,320
Loan principal paid down+$5,338
Rental cash flow+$7,200
5-year hold
+$45,993(123.5% ROI)
Projected value
$210,719
Return breakdown
Property appreciation+$24,474
Loan principal paid down+$9,519
Rental cash flow+$12,000
10-year hold
+$98,847(265.4% ROI)
Projected value
$238,409
Return breakdown
Property appreciation+$52,164
Loan principal paid down+$22,683
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.02
1 BR
0.97
2 BR
1.01
3 BR
0.76
4 BR
0.96
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 79701 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 79701 (Midland, TX) is $1,680 a month. That is down 0.6% from $1,690 in FY 2026. Midland is in the Midland, 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 $1,794. Among 14 ZIP codes in Midland County, 79701 is tied for the 11th-highest two-bedroom rent (county range $1,610–$1,910). The median county two-bedroom FMR in Texas is $1,105, so ZIP 79701 is 52% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 79701
BedroomsFY 2027Change90–110% range
Studio$1,290−9.8%$1,161–$1,419
1BR$1,320−8.3%$1,188–$1,452
2BR$1,680−0.6%$1,512–$1,848
3BR$2,080−3.7%$1,872–$2,288
4BR$2,410−9.7%$2,169–$2,651

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 79701
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,290$1,320$1,680$2,080$2,410
FY 2026$1,430$1,440$1,690$2,160$2,670
FY 2025$1,420$1,420$1,670$2,140$2,650
FY 2024$1,180$1,180$1,390$1,780$2,350
FY 2023$1,050$1,050$1,290$1,600$2,210

Two-bedroom rent in nearby Midland County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 79701
79701Current$1,680—
79702$1,790+6.5%
79703$1,910+13.7%
79704$1,790+6.5%
79705$1,850+10.1%
79706$1,630−3.0%
79707$1,800+7.1%
79708$1,790+6.5%
79710$1,790+6.5%
79712$1,790+6.5%
79758$1,6800.0%
79765$1,800+7.1%

Questions about ZIP 79701 rents

How much will Section 8 pay for a two-bedroom in ZIP 79701?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,794, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,615 to $1,973 a month; under the ZIP-level Small Area FMR of $1,680 it would be $1,512 to $1,848. 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 79701 in?

ZIP 79701 is in the Midland, TX HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,794.

How much did fair market rent change in ZIP 79701 for FY 2027?

The two-bedroom FMR fell 0.6%, from $1,690 in FY 2026 to $1,680 in FY 2027. Since FY 2023 it has risen 30.2%.

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