Section 8 Fair Market Rent (FMR) for ZIP 75032 - 2027
Location: Dallas, TX | Metro: Dallas, TX HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,880 |
| 1 Bedroom | $1,940 |
| 2 Bedrooms | $2,280 |
| 3 Bedrooms | $2,870 |
| 4 Bedrooms | $3,650 |
| 5 Bedrooms | $4,234 |
| 6 Bedrooms | $4,742 |
| 7 Bedrooms | $5,121 |
| 8 Bedrooms | $5,377 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$135,742
Housing Authorities Serving ZIP 75032
To determine if you should buy in ZIP code 75032 (Rockwall, TX) for Section 8 investments, follow this decision tree:
- Does FMR $2060 (zip FY 2024) clear debt service on a $531,398 property?
- Yes: The Fair Market Rent (FMR) of $2060 is sufficient to cover the debt service on a property valued at $531,398. This means that the rental income can meet the mortgage payments and other financial obligations associated with owning the property.
- No: If the FMR of $2060 does not cover the debt service, then purchasing a $531,398 property in Rockwall, TX for Section 8 is not financially viable. The rental income would be insufficient to meet the financial obligations of the property.
- Is market rent $1,915 (ZORI) above, at, or below FMR?
- Above: If the market rent is higher than the FMR, at $1,915, it suggests that there is potential for the landlord to earn more than the FMR allows. However, this is not directly relevant to Section 8 eligibility unless the landlord plans to offer units both under Section 8 and on the private market.
- At: If the market rent equals the FMR, the landlord will receive exactly what is needed to cover the costs associated with the property. This scenario is less common but can happen.
- Below: With the ZORI (Zillow's Estimated Rent Index) at $1,915, which is below the FMR of $2060, landlords might find it challenging to attract non-Section 8 tenants at the lower market rate. This could indicate a reliance on Section 8 vouchers to fill vacancies.
- Are 20.3% renters + 71-day DOM enough demand?
- It Depends: In ZIP 75032, 20.3% of residents are renters, indicating a moderate level of rental demand. A Days on Market (DOM) of 71 days suggests that properties take slightly over two months to rent out. While this is not ideal, it does not necessarily preclude successful Section 8 investments. Consider the local competition and vacancy rates before making a decision.
The decision to invest in ZIP 75032 for Section 8 properties hinges on whether the FMR sufficiently covers debt service and the balance between market rents and the FMR. Rental demand is present but not overwhelming, requiring careful consideration of the market conditions and competition.
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.