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Midland County/Midland/79707

79707

ZIPSAFMR
Midland County, TX
Zillow

ZIP Investment Score

82Below average

095130300
BRFMR
Eff. Rent
0 BR$1,340$1,470
1 BR$1,410$1,460
2 BR$1,800$1,980
3 BR$2,230$2,310
4 BR$2,410$2,650
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
$232,311

Cost breakdown

+Likely effective rent$1,980
HUD FMR$1,800
Market rent$2,260
Est. payment standard (110%)Used$1,980
-Principal and interest-$1,175
Loan amount$185,849
Down payment$46,462
Rate6.50%
Term30 years
-Operating costs-$605
Property taxes-$232
Insurance-$175
Utilities$0
HOA$0
Management-$198
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,721(68.3% ROI)
Projected value
$250,173
Return breakdown
Property appreciation+$17,863
Loan principal paid down+$6,659
Rental cash flow+$7,200
5-year hold
+$54,401(117.1% ROI)
Projected value
$262,838
Return breakdown
Property appreciation+$30,528
Loan principal paid down+$11,874
Rental cash flow+$12,000
10-year hold
+$117,360(252.6% ROI)
Projected value
$297,377
Return breakdown
Property appreciation+$65,067
Loan principal paid down+$28,293
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.87
1 BR
0.95
2 BR
0.80
3 BR
0.95
4 BR
0.77
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 79707 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 79707 (Midland, TX) is $1,800 a month. That is up 3.4% from $1,740 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, 79707 is tied for the 3rd-highest two-bedroom rent (county range $1,610–$1,910). The median county two-bedroom FMR in Texas is $1,105, so ZIP 79707 is 63% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 79707
BedroomsFY 2027Change90–110% range
Studio$1,340−6.3%$1,206–$1,474
1BR$1,410−2.1%$1,269–$1,551
2BR$1,800+3.4%$1,620–$1,980
3BR$2,2300.0%$2,007–$2,453
4BR$2,410−9.7%$2,169–$2,651

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 79707
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,340$1,410$1,800$2,230$2,410
FY 2026$1,430$1,440$1,740$2,230$2,670
FY 2025$1,570$1,580$1,850$2,380$2,940
FY 2024$1,350$1,360$1,600$2,040$2,700
FY 2023$1,130$1,130$1,350$1,710$2,300

Two-bedroom rent in nearby Midland County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 79707
79701$1,680−6.7%
79702$1,790−0.6%
79703$1,910+6.1%
79704$1,790−0.6%
79705$1,850+2.8%
79706$1,630−9.4%
79707Current$1,800—
79708$1,790−0.6%
79710$1,790−0.6%
79712$1,790−0.6%
79758$1,680−6.7%
79765$1,8000.0%

Questions about ZIP 79707 rents

How much will Section 8 pay for a two-bedroom in ZIP 79707?

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 $1,800 it would be $1,620 to $1,980. 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 79707 in?

ZIP 79707 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 79707 for FY 2027?

The two-bedroom FMR rose 3.4%, from $1,740 in FY 2026 to $1,800 in FY 2027. Since FY 2023 it has risen 33.3%.

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