Section 8 Fair Market Rent (FMR) for ZIP 75160 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 75160

• Greenville Housing Authority (Greenville, TX) - 792 Section 8 vouchers
• Terrell Housing Authority (Terrell, TX) - 462 Section 8 vouchers
• Housing Authority of Rockwall (Rockwall, TX) - 39 Section 8 vouchers
• Housing Authority of Commerce (Commerce, TX)
• Housing Authority of Kemp (Kemp, TX)
• Housing Authority of Royse City (Royse City, TX)
• Housing Authority of Caddo Mills (Caddo Mills, TX)
• Housing Authority of Wolfe City (Wolfe City, TX)
• Housing Authority of Mabank (Mabank, TX)

To determine if you should buy in ZIP 75160 (Terrell, TX) for Section 8 investment, follow these steps:

• If the answer to the first question is yes: Does the Fair Market Rent (FMR) of $1480 cover the debt service on a property valued at $261,867? If it does, proceed to the second question.
• If the answer to the first question is no: The FMR of $1480 does not cover the debt service on a property valued at $261,867. Therefore, do not invest in this area for Section 8 purposes.

Second Question: Is the market rent of $1,676 (ZORI) above, at, or below the FMR?

• If ZORI is above FMR: The market rent of $1,676 is higher than the FMR of $1480. This suggests that properties may be rented out at market rates when not occupied by Section 8 tenants, which can provide additional flexibility and potential for higher returns. Proceed to the third question.
• If ZORI is at or below FMR: The market rent of $1,676 is close to or below the FMR of $1480. This means there is little to no premium over the FMR, reducing the incentive to seek non-Section 8 tenants. Consider the demand factors before making a decision.

Third Question: Are the demand factors sufficient given 31.5% of residents are renters and the average Days on Market (DOM) is 84 days?

• If demand is high: With 31.5% of residents being renters and an average DOM of 84 days, the demand is moderate but not exceptionally high. However, if the DOM is decreasing and rental listings are quickly filled, this indicates growing demand. Invest in this area if both the FMR covers debt service and market rent is above FMR.
• If demand is low: An 84-day DOM suggests a slower rental market. If combined with a low percentage of renters, this may indicate insufficient demand for Section 8 units. Do not invest in this area unless the FMR significantly exceeds your debt service costs.
• If demand depends: The 31.5% rental rate and 84-day DOM are not conclusive on their own. Analyze trends over time and consider local economic indicators such as job growth and population changes. If the trend shows increasing demand, it could still be a viable investment despite current conditions.

The decision to invest in ZIP 75160 for Section 8 properties hinges on whether the FMR can cover your debt service, how the ZORI compares to the FMR, and the overall rental demand. Use the specific dollar figures provided to make an informed choice.

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.