Location: Dallas, TX | Metro: Dallas, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,420 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,720 |
| 3 Bedrooms | $2,170 |
| 4 Bedrooms | $2,750 |
| 5 Bedrooms | $3,190 |
| 6 Bedrooms | $3,573 |
| 7 Bedrooms | $3,859 |
| 8 Bedrooms | $4,052 |
The Fair Market Rent (FMR) for ZIP code 75017 in fiscal year 2024 is set at $1680. This figure represents the payment standard for Section 8 housing vouchers, meaning that if you participate in the program, you will receive this amount per month as reimbursement for rent from the Housing Authority. It's important to note that this is not the rent you should charge tenants; it's the maximum amount the voucher can cover.
While the local median rent is listed as N/A, the FMR serves as a benchmark for what is considered reasonable rent in the area. Landlords often use this number to determine their asking price, ensuring it's competitive yet within the bounds of what voucher holders can afford.
The percentage of renters in ZIP 75017 is N/A%, indicating a significant portion of the population relies on rental housing. This suggests there is a steady demand for rental properties, especially those that accept Section 8 vouchers. However, the lack of specific median rent data makes it harder to gauge exactly how competitive your property needs to be.
In terms of acquisition costs, which are also noted as N/A, it's crucial to understand these can vary widely depending on the condition and location of the property. Typically, landlords should aim to purchase properties that they can maintain and manage within the FMR guidelines without incurring excessive losses.
Before proceeding with a Section 8 rental, verify that your property meets all the required safety and habitability standards set by the Housing Authority. This includes passing inspections for structural integrity, electrical systems, plumbing, and general cleanliness. Ensuring compliance with these standards upfront will save you time and money in the long run.
Data Sources: FMR data from HUD (2027).
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.