FMR is near market; voucher and private rents are aligned.
0.98
1 BR
1 BR
0.98ratio
FMR$1,400
Market$1,430
vs market-$30
FMR is near market; voucher and private rents are aligned.
0.98
2 BR
2 BR
1.03ratio
FMR$1,790
Market$1,740
vs market+$50
FMR is near market; voucher and private rents are aligned.
1.03
3 BR
3 BR
0.78ratio
FMR$2,220
Market$2,860
vs market-$640
FMR is below market; voucher rent may lag private rents.
0.78
4 BR
4 BR
0.98ratio
FMR$2,420
Market$2,470
vs market-$50
FMR is near market; voucher and private rents are aligned.
0.98
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
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ZIP 79702 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 79702 (Midland, TX) is $1,790 a month. That is up 0.6% from $1,780 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, 79702 is tied for the 5th-highest two-bedroom rent (county range $1,610–$1,910). The median county two-bedroom FMR in Texas is $1,105, so ZIP 79702 is 62% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 79702
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,430
$1,330
−7.0%
$1,197–$1,463
1BR
$1,450
$1,400
−3.4%
$1,260–$1,540
2BR
$1,780
$1,790
+0.6%
$1,611–$1,969
3BR
$2,290
$2,220
−3.1%
$1,998–$2,442
4BR
$2,680
$2,420
−9.7%
$2,178–$2,662
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 79702
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,330
$1,400
$1,790
$2,220
$2,420
FY 2026
$1,430
$1,450
$1,780
$2,290
$2,680
FY 2025
$1,580
$1,590
$1,870
$2,400
$2,970
FY 2024
$1,360
$1,370
$1,610
$2,060
$2,720
FY 2023
$1,110
$1,120
$1,330
$1,680
$2,270
Two-bedroom rent in nearby Midland County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 79702?
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 $1,790 it would be $1,611 to $1,969. 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 79702 in?
ZIP 79702 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 79702 for FY 2027?
The two-bedroom FMR rose 0.6%, from $1,780 in FY 2026 to $1,790 in FY 2027. Since FY 2023 it has risen 34.6%.
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