Section 8 Fair Market Rent (FMR) for ZIP 75062 - 2027

Investment Score for ZIP 75062

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,400
1 Bedroom	$1,440
2 Bedrooms	$1,700
3 Bedrooms	$2,140
4 Bedrooms	$2,720
5 Bedrooms	$3,155
6 Bedrooms	$3,534
7 Bedrooms	$3,817
8 Bedrooms	$4,008

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,440	$122,219	1.18%	B
2BR	$1,700	$221,407	0.77%	D
3BR	$2,140	$294,160	0.73%	D
4BR	$2,720	$385,959	0.7%	D
5BR	$3,155	$693,749	0.45%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 75062 (Irving, TX) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for Irving, TX (ZIP 75062) is set by HUD for 2026 as follows: - 0BR: $1490 - 1BR: $1550 - 2BR: $1820 - 3BR: $2290 - 4BR: $2910 These figures represent the maximum amount that a Section 8 voucher holder can pay for rent in different unit sizes. However, the actual rents in the area can be significantly higher. For instance, the Zillow median price for a 2BR property is $222,612, which translates into a monthly rental cost of approximately $1,855 based on typical mortgage rates and property taxes. This is already above the FMR for a 2BR unit, which is $1820. The price-to-FMR ratio of 10.2x indicates that the median home value is much higher than what the FMR suggests for rental properties, suggesting a significant gap between the FMR and actual market rents. Given these dynamics, voucher holders face constraints in finding affordable housing. They must find units where the rent does not exceed $1820 for a 2BR unit, which is challenging given the high median home values and likely higher rental costs in the area. #### Affordability & Renter Profile The population of ZIP 75062 is 52,116, with 54.6% being renters. This indicates a strong demand for rental properties. The occupancy rate stands at 93.3%, suggesting that the market is relatively tight, with few vacant units available. With a median household income of $72,704, the affordability of housing becomes a critical issue. The FMR for a 2BR unit is $1820, which represents 30.0% of the median income. This means that a significant portion of the population, especially those relying on Section 8 vouchers, would struggle to afford housing that exceeds this amount. Given the high median home values and the price-to-FMR ratio, it is clear that the market is tight and potentially overpriced for low-income renters. #### Investor Angle From an investor’s perspective, the key question is whether investing in this ZIP code can be cash-flow positive at the FMR levels. To assess this, we need to consider the typical rental yields and expenses associated with owning a property in Irving, TX. Assuming a 2BR unit with a Zillow median price of $222,612, the monthly mortgage payment (including principal, interest, taxes, and insurance) would typically be around $1,855. This figure is already close to the FMR for a 2BR unit ($1820), leaving little room for profit without significant economies of scale or other revenue streams. Moreover, the price-to-FMR ratio of 10.2x suggests that the market is highly inflated compared to what HUD considers fair for low-income families. In terms of investment grade, the ZIP code appears to be risky for Section 8-focused investors due to the high median home values and the limited ability to command higher rents without exceeding the FMR. Additionally, the tight market conditions mean that there might be fewer opportunities to acquire properties at reasonable prices. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the high price-to-FMR ratio, investors should focus on smaller units such as 0BR and 1BR apartments. These units have lower FMRs ($1490 and $1550 respectively) and may be more affordable for voucher holders. This could provide a better chance of achieving positive cash flow. 2. **Consider Lower-Priced Properties**: While the median home value is $222,612, investors should look for properties below this average. A 2BR unit priced at $182,000 would yield a monthly mortgage payment closer to the FMR, making it more feasible for Section 8 tenants. This would also help in reducing the overall risk of the investment. 3. **Utilize Rental Assistance Programs**: Investors could explore additional rental assistance programs beyond Section 8 to supplement the income. For example, some local governments offer additional subsidies or tax incentives for landlords who accept low-income tenants. This could help bridge the gap between the FMR and actual market rents. #### Bottom Line Based on the provided data, the recommendation for Section 8-focused investors in ZIP 75062 (Irving, TX) is to **Skip** this market. The high median home values and the price-to-FMR ratio indicate that the market is too expensive for low-income renters, making it difficult to achieve positive cash flow. Additionally, the tight market conditions suggest that there will be limited opportunities to acquire properties at reasonable prices. Therefore, investors looking to focus on Section 8 properties should consider other ZIP codes with more favorable FMR-to-market price ratios and less competitive rental markets.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.