Location: Dallas, TX | Metro: Dallas, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,540 |
| 1 Bedroom | $1,590 |
| 2 Bedrooms | $1,870 |
| 3 Bedrooms | $2,350 |
| 4 Bedrooms | $2,990 |
| 5 Bedrooms | $3,468 |
| 6 Bedrooms | $3,884 |
| 7 Bedrooms | $4,195 |
| 8 Bedrooms | $4,405 |
U.S. Census Bureau data (2024)
The ZIP code 75164 presents a dynamic rental market influenced by various factors that contribute to its current state. The Fair Market Rent (FMR) for the area, set at $1600 for fiscal year 2024, serves as a benchmark for affordable rental rates. However, the actual market rent, reported at $1,792 according to Census ACS data, indicates a slight premium over the FMR. This suggests that there is a modest level of demand pushing rents above the government's affordability threshold.
A key indicator of market health is the renter share, which stands at 10.7% in ZIP 75164. While this figure might seem low, it reflects a concentrated segment of the population that relies on rental housing. This relatively small percentage of renters can imply significant long-term housing pressure, as a high proportion of residents owning homes means that any increase in demand for rentals could rapidly drive up prices due to limited supply. Landlords and small-portfolio investors should be cautious of potential fluctuations in this market, given the delicate balance between supply and demand.
The lack of specific data regarding price-cut share, days on market (DOM), and median home value leaves some gaps in understanding the broader housing market dynamics. However, the fact that these metrics are not provided could suggest stability in the housing market, as extreme values often necessitate reporting. In the context of rental properties, the absence of high days on market or frequent price cuts points towards a market where units are occupied promptly, indicating a steady demand for rental housing.
In summary, ZIP 75164 appears to be a market where demand is keeping pace with supply, but the modest premium on market rent over FMR and the low renter share suggest a potential for increased housing pressure as demand grows. Landlords and investors should monitor trends closely, particularly in the rental sector, to capitalize on opportunities and mitigate risks associated with changing market conditions.
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.