Location: Dallas, TX | Metro: Dallas, TX HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,460 |
| 1 Bedroom | $1,500 |
| 2 Bedrooms | $1,770 |
| 3 Bedrooms | $2,230 |
| 4 Bedrooms | $2,830 |
| 5 Bedrooms | $3,283 |
| 6 Bedrooms | $3,677 |
| 7 Bedrooms | $3,971 |
| 8 Bedrooms | $4,170 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,230 | $237,552 | 0.94% | C |
| 4BR | $2,830 | $288,946 | 0.98% | C |
U.S. Census Bureau data (2024)
The ZIP code 75114 is home to 9,333 residents, with 12.7% being renters. This indicates that the area is not heavily dominated by renters; rather, it has a smaller but still significant rental population. The median household income in this ZIP is $88,013, which places it in a higher income bracket compared to many other areas.
The market rent for properties in this ZIP stands at $1,964 per month. To put this into perspective, typical rent consumes approximately 22% of the local median income. This calculation is based on dividing the market rent by the monthly median income ($88,013 annual income divided by 12 months), revealing that renters in this area pay a substantial portion of their income towards housing costs.
Comparing the market rent to the Fair Market Rent (FMR) set by HUD for ZIP 75114, which is $1,630 for FY 2024, we see that the market rent exceeds the FMR by about $334. This suggests that landlords in this ZIP may find it challenging to attract tenants who rely solely on Section 8 vouchers, given the gap between the FMR and the actual market rent.
A landlord in ZIP 75114 can expect tenants who are likely to be employed and have a steady income, possibly working in sectors that support the higher median income level of the area. These tenants might not exclusively depend on government assistance for housing, but could benefit from it as a supplement to their earnings. It's important to note that while the voucher amount may cover part of the rent, landlords will need to consider whether they can accept slightly lower rents or if they must seek out tenants who can afford the difference above the voucher amount.
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.