Section 8 Fair Market Rent (FMR) for ZIP 75138 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 75138, located in Texas, is a burgeoning area that offers significant opportunities for real estate investors, particularly those interested in the Section 8 housing market. With a focus on affordable housing, this region provides a stable tenant base and predictable rental income.

• The Fair Market Rent (FMR) for ZIP 75138 in fiscal year 2024 is set at $1680. This figure represents the maximum amount that a landlord can charge for a unit under the Section 8 program, ensuring a consistent revenue stream for investors.
• The median home value in ZIP 75138 is currently N/A, indicating that there is limited data available on home values in this area. However, this also suggests that the market is still developing and could present growth opportunities.
• The percentage of residents who are renters in ZIP 75138 is N/A. Without this statistic, it's challenging to gauge the demand for rental properties specifically, but the presence of the Section 8 program implies a significant need for affordable housing.
• The Days on Market (DOM) for properties in this area is N/A, which would typically indicate how quickly homes are selling or renting. The lack of this data might suggest a less competitive market, offering potential advantages for securing tenants.
• The median household income for ZIP 75138 is N/A. While this data point is missing, the reliance on the Section 8 program indicates that a portion of the population earns below the median income, making affordable housing a necessity.

Investors looking to enter the Section 8 market in ZIP 75138 should be aware of the established fair market rent of $1680, which guarantees a fixed income level. Despite the lack of comprehensive data on market rents, home values, renter share, DOM, and median income, the area's dependence on affordable housing programs presents a reliable investment opportunity. Landlords and small-portfolio investors can expect a steady flow of tenants and a low-risk environment, given the government-backed rental assistance. As the area continues to develop, monitoring additional economic indicators will provide further insight into the potential for increased property values and rental rates.

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.