Section 8 Fair Market Rent (FMR) for ZIP 74576 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$670
1 Bedroom	$730
2 Bedrooms	$920
3 Bedrooms	$1,220
4 Bedrooms	$1,450
5 Bedrooms	$1,682
6 Bedrooms	$1,884
7 Bedrooms	$2,035
8 Bedrooms	$2,137

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the available data, the median home value for ZIP code 74576 is approximately $268,800. This figure is crucial when calculating the potential returns for landlords and small-portfolio investors considering Section 8 properties in this area. The Fair Market Rent (FMR) for a 2-bedroom apartment in ZIP 74576 for fiscal year 2026 is set at $940 per month. To annualize this, we multiply by 12, yielding an annual rental income of $11,280. Given the median home value, the implied gross yield for a Section 8 property would be around 4.2%. This calculation is derived by dividing the annual rental income by the median home value: $11,280 / $268,800 = 0.042, or 4.2%. In contrast, the market rent for the same type of property is not available, which makes it challenging to provide a direct comparison. However, it's important to note that the gross yield from market rents would typically be higher than that from Section 8 rents due to the government-set limits on rental amounts. Without specific market rent figures, we cannot calculate the exact gross yield; however, it would likely exceed 4.2%. Given the 6.9% renter density in ZIP 74576, it's reasonable to assume that the demand for rental properties, including those under the Section 8 program, is relatively low. The lack of data on days on market (DOM) further complicates the analysis, but it suggests that there might be some uncertainty regarding how quickly properties can be rented out.

In summary, while the gross yield from Section 8 properties in ZIP 74576 is estimated at 4.2%, the actual yield from market rents would likely be higher. The low renter density implies that landlords should carefully consider the potential challenges in finding tenants, especially since the median home value is above average for the region.

Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.