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Midland County/Midland/79705

79705

ZIPSAFMR
Midland County, TX
Zillow

ZIP Investment Score

87Below average

095130300
BRFMR
Eff. Rent
0 BR$1,380$1,450
1 BR$1,450$1,520
2 BR$1,850$1,800
3 BR$2,290$2,350
4 BR$2,490$2,740
5 BR$2,864Not available
6 BR$3,293Not available
7 BR$3,787Not available
8 BR$4,355Not available

Purchase Price Calculator

Maximum purchase price
$205,563

Cost breakdown

+Likely effective rent$1,800
HUD FMR$1,850
Market rentUsed$1,800
Est. payment standard (98%)$1,820
-Principal and interest-$1,039
Loan amount$164,450
Down payment$41,113
Rate6.50%
Term30 years
-Operating costs-$561
Property taxes-$206
Insurance-$175
Utilities$0
HOA$0
Management-$180
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,898(70.3% ROI)
Projected value
$221,369
Return breakdown
Property appreciation+$15,806
Loan principal paid down+$5,892
Rental cash flow+$7,200
5-year hold
+$49,519(120.4% ROI)
Projected value
$232,575
Return breakdown
Property appreciation+$27,013
Loan principal paid down+$10,507
Rental cash flow+$12,000
10-year hold
+$106,611(259.3% ROI)
Projected value
$263,138
Return breakdown
Property appreciation+$57,575
Loan principal paid down+$25,036
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.93
1 BR
0.94
2 BR
1.03
3 BR
0.96
4 BR
0.84
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 79705 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 79705 (Midland, TX) is $1,850 a month. That is unchanged from 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, 79705 has the 2nd-highest two-bedroom rent (county range $1,610–$1,910). The median county two-bedroom FMR in Texas is $1,105, so ZIP 79705 is 67% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 79705
BedroomsFY 2027Change90–110% range
Studio$1,380−6.8%$1,242–$1,518
1BR$1,450−4.0%$1,305–$1,595
2BR$1,8500.0%$1,665–$2,035
3BR$2,290−3.8%$2,061–$2,519
4BR$2,490−9.8%$2,241–$2,739

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 79705
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,380$1,450$1,850$2,290$2,490
FY 2026$1,480$1,510$1,850$2,380$2,760
FY 2025$1,640$1,650$1,930$2,480$3,060
FY 2024$1,400$1,410$1,660$2,120$2,800
FY 2023$1,140$1,140$1,360$1,720$2,320

Two-bedroom rent in nearby Midland County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 79705
79701$1,680−9.2%
79702$1,790−3.2%
79703$1,910+3.2%
79704$1,790−3.2%
79705Current$1,850—
79706$1,630−11.9%
79707$1,800−2.7%
79708$1,790−3.2%
79710$1,790−3.2%
79712$1,790−3.2%
79758$1,680−9.2%
79765$1,800−2.7%

Questions about ZIP 79705 rents

How much will Section 8 pay for a two-bedroom in ZIP 79705?

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 $1,850 it would be $1,665 to $2,035. 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 79705 in?

ZIP 79705 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 79705 for FY 2027?

The two-bedroom FMR was unchanged at $1,850 in FY 2027. Since FY 2023 it has risen 36.0%.

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