Location: Dallas, TX | Metro: Dallas, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,420 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,720 |
| 3 Bedrooms | $2,170 |
| 4 Bedrooms | $2,750 |
| 5 Bedrooms | $3,190 |
| 6 Bedrooms | $3,573 |
| 7 Bedrooms | $3,859 |
| 8 Bedrooms | $4,052 |
The Fair Market Rent (FMR) for ZIP code 75355 in fiscal year 2024 is set at $1680. This figure represents the payment standard for Section 8 housing vouchers in your area, meaning it's the maximum amount the government will pay on behalf of eligible tenants. It does not represent the total rent you can charge; rather, it sets an upper limit for the portion covered by the voucher.
To put this into perspective, let's compare it to the average market rent in ZIP 75355, which is currently listed as N/A. Given that the FMR is $1680, if the typical market rent is higher, you might need to adjust your expectations for the tenant's contribution to the overall rent. The percentage of renters in the area who could benefit from Section 8 vouchers is also N/A%, indicating a significant demand for affordable housing options. This suggests that there is a strong likelihood of finding tenants who qualify for the program.
The median home value in ZIP 75355 is N/A, which gives us insight into the acquisition costs for properties in this area. If you're looking to purchase a property specifically for Section 8 rentals, this figure helps estimate the investment required. Keep in mind that the property must meet certain criteria to be approved for the Section 8 program, including passing a habitability inspection and meeting minimum rental standards.
Before proceeding with your first Section 8 rental, ensure you verify the property's compliance with all relevant housing quality standards. This step is crucial as it directly affects whether your rental unit will be approved for the program. Compliance ensures that the property is safe, healthy, and meets the necessary conditions to support a tenant receiving assistance.
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.