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 | $1,230 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,490 | $161,260 | 0.92% | C |
| 3BR | $1,880 | $238,010 | 0.79% | D |
| 4BR | $2,380 | $278,181 | 0.86% | C |
| 5BR | $2,761 | $330,791 | 0.83% | C |
U.S. Census Bureau data (2024)
The ZIP code 75232 in Dallas, TX, is characterized by a substantial rental market. With a population of 32,972, nearly one-third (30.2%) of residents are renters. This indicates a significant tenant pool that could benefit from Section 8 housing vouchers. The median household income in the area is $61,847, which provides a baseline for understanding the economic context of potential tenants.
The typical market rent in ZIP 75232 stands at $1,339 per month. This amount represents approximately 21.6% of the median household income when calculated annually, suggesting that rent is a considerable expense for many households. However, the Federal Market Rent (FMR) for the area is set higher at $1,520 per month for FY 2024, indicating that the government's benchmark for affordable housing exceeds the current market rate. This discrepancy can be advantageous for landlords, as it means that tenants with vouchers could afford units priced slightly above the market average.
A landlord in ZIP 75232 should anticipate a diverse tenant profile. Many will likely be working individuals or families who rely on the combination of their income and voucher assistance to cover rent. Given the high proportion of renters and the relatively low median income compared to the FMR, there is likely a robust demand for Section 8 vouchers. This suggests that landlords who participate in the program could attract a steady stream of qualified tenants.
To summarize, ZIP 75232 is a renter-heavy area with strong demand for housing vouchers. Landlords can expect tenants who need financial assistance to manage housing costs, but the FMR being higher than the market rent makes it feasible for these tenants to find suitable accommodation. Participation in the Section 8 program can be a strategic move for landlords looking to tap into this demand while ensuring stable occupancy rates.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.