Location: Delta County, TX | Metro: Delta County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 75450 in metro FY 2026 is set at $970. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for the Section 8 housing voucher program. It does not mean that tenants will pay $970 towards their rent; rather, it's the maximum amount that HUD will reimburse landlords for renting out a unit in this area.
To understand the implications, consider that the FMR is determined based on market conditions and is designed to cover a reasonable portion of typical rental costs. In ZIP 75450, the local average rent is currently unavailable, but the FMR can still guide you on setting your own rent rates. If you aim to participate in the Section 8 program, your rent should be competitive with other properties in the area, yet not exceed the FMR limit for reimbursement purposes.
The 13.5% renter share indicates the percentage of income that eligible families must contribute toward their rent. For instance, if a family earns $2,000 per month, they would need to pay $270 (13.5% of $2,000) toward their rent, with the remainder covered by the Section 8 voucher up to the $970 payment standard. This ensures that the rent is affordable for low-income families while providing landlords with a stable source of income.
Regarding the acquisition cost of a property in ZIP 75450, the median home value is also currently unavailable. However, the FMR can help you gauge whether the property's potential rental income aligns with the expected purchase price. When calculating the acquisition cost, remember that the FMR is an indicator of the rental market's health and can influence property values.
Before committing to your first Section 8 rental, verify that your property meets all the required quality standards. HUD mandates that units participating in the Section 8 program must pass a Housing Quality Standards (HQS) inspection, ensuring that the living conditions are safe and habitable. This is a critical step to ensure compliance and avoid any issues with the program.
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.