Location: Hopkins County, TX | Metro: Hopkins County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 75437, as set by HUD for metro FY 2026, is $1,230. This figure represents the payment standard for Section 8 vouchers in the area, which is the amount the government will pay toward your tenant's rent. It does not mean you can charge $1,230 for rent; it is simply the ceiling for the government subsidy.
To put this into perspective, the average rent in ZIP 75437, according to Census ACS data, is $953. This indicates that the FMR is higher than the typical market rate, giving you an advantage when it comes to setting your own rent price. However, it also suggests that tenants with vouchers might find it easier to secure housing at the lower end of the market rate.
The 8.0% renter share in ZIP 75437 means that approximately 8% of households in the area are renters, indicating a moderate demand for rental properties. While this percentage might seem low, it still represents a significant number of potential tenants who could benefit from Section 8 vouchers.
If you are looking to acquire a property in this ZIP code, the median home value is around $358,140. This figure gives you a baseline for understanding the typical cost of purchasing a home in the area. However, keep in mind that the actual price of a rental property might be different, depending on factors such as condition, size, and location.
Before committing to a Section 8 rental property, it is crucial to verify the physical condition of the property against HUD’s Housing Quality Standards (HQS). These standards ensure that the property meets basic safety and habitability requirements. Failure to meet these standards could result in disqualification from the program, so it is essential to confirm compliance to avoid any issues.
In summary, the FMR of $1,230 provides a benchmark for government subsidies but does not dictate your rent pricing. The local average rent of $953 and the 8.0% renter share suggest a moderate demand for rental units, while the median home value of $358,140 offers insight into the typical acquisition costs. Ensure the property meets HQS to avoid complications once you decide to become a Section 8 landlord.
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.