Location: Dallas, TX | Metro: Dallas, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,350 |
| 1 Bedroom | $1,410 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,070 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
U.S. Census Bureau data (2024)
The ZIP code 75135 is located in a neighborhood characterized by a relatively low density of rental properties, with only 12.8% of the 11,326 residents being renters. This indicates a primarily owner-occupied area where the median income stands at $111,235, suggesting a financially stable community. The median home value in this area is $316,193, reflecting the overall economic health and property values.
From an investment perspective, the Federal Market Rent (FMR) for ZIP 75135 in fiscal year 2024 is set at $1,620, which is notably higher than the current market rent of $1,326 as reported by the Census Bureau's American Community Survey. This gap between FMR and market rent presents an opportunity for landlords and small-portfolio investors to potentially increase their rental income while still remaining competitive in the local market.
Given these conditions, ZIP 75135 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the stability of the neighborhood and the likelihood of consistent rent payments through the Section 8 program make it a reliable choice. Meanwhile, hands-on investors can leverage the discrepancy between FMR and market rent to enhance property values and rents, thereby increasing their returns over time. However, due to the limited rental stock, hands-on investors should be prepared to identify and capitalize on opportunities for conversion or renovation of existing properties to cater to the Section 8 market.
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.