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 ZIP code 75046 in Garland, TX, represents a large-sized community with diverse demographics. With a total population of 45,046, it stands out as a vibrant and young neighborhood, featuring a median age of 29 years. While the exact percentage of renters is not specified, the median household income of $50,046 suggests a working-class area. The median home value is $179,765, indicating an affordable housing market.
In terms of rent economics, the Fair Market Rent (FMR) for ZIP code 75046 in fiscal year 2024 is set at $1,680. In contrast, the median market rent is $1,390. This discrepancy highlights the potential for Section 8 vouchers to cover a significant portion of rental costs, making it attractive for both tenants and landlords.
Given the relatively high FMR compared to the median market rent, ZIP code 75046 is well-suited for hands-off voucher operators. Landlords can expect stable, government-backed rental income without the need for extensive property management. However, the area also offers opportunities for hands-on value-add buyers who can improve properties and potentially command higher rents above the FMR.
The overall livability score of 77 out of 100 reflects a good quality of life, with particularly strong scores in amenities and housing. Safety is rated below average, so potential investors should consider this factor when evaluating the neighborhood. Despite the lower safety score, the cost of living index of 59, which is below the national average, makes Garland a financially advantageous location for investment.
Investors in ZIP code 75046 should leverage the favorable rent economics and consider both hands-off and hands-on strategies depending on their risk tolerance and management capabilities.
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.