Location: Dallas, TX | Metro: Dallas, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $2,220 |
| 5 Bedrooms | $2,575 |
| 6 Bedrooms | $2,884 |
| 7 Bedrooms | $3,115 |
| 8 Bedrooms | $3,271 |
The Fair Market Rent (FMR) for ZIP code 75458 in fiscal year 2024 is set at $1380. This figure represents the maximum amount that a landlord can charge as rent for a Section 8 voucher holder in this area. It's important to note that this is not necessarily the rent you will receive; it is the payment standard used by the housing authority to determine the amount of assistance they will provide to tenants.
To put this into perspective, the local median rent for ZIP 75458 is currently listed as N/A, which means that the FMR of $1380 is the benchmark against which potential rents must be compared. Since the local median rent is not available, we cannot directly compare it to the FMR, but the FMR serves as a guideline for what is considered a fair rent in the area.
The percentage of renters in ZIP 75458 who could potentially benefit from Section 8 assistance is also noted as N/A%. This indicates the demand for affordable housing in the area. If this percentage were higher, it would suggest a greater number of potential tenants looking for Section 8 rentals, increasing the likelihood of finding a suitable tenant quickly.
Regarding the acquisition cost of a property in ZIP 75458, the average home value is listed as N/A. This can help you estimate the initial investment required to purchase a rental property in the area. However, since the exact figure is not available, you should consider researching recent property sales or consulting with a local real estate agent to get a clearer picture of the market value.
Before committing to your first Section 8 rental in ZIP 75458, ensure that the property meets all the necessary qualifications set by the housing authority. Specifically, you should verify that the rent you plan to charge does not exceed the FMR of $1380. This is crucial because if your rent is too high, it may not be approved under the Section 8 program, leaving you without a tenant and potentially missing out on a steady income stream.
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.