Location: Dallas, TX | Metro: Dallas, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,710 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $2,070 |
| 3 Bedrooms | $2,610 |
| 4 Bedrooms | $3,310 |
| 5 Bedrooms | $3,840 |
| 6 Bedrooms | $4,301 |
| 7 Bedrooms | $4,645 |
| 8 Bedrooms | $4,877 |
The Fair Market Rent (FMR) for ZIP code 75485 in fiscal year 2024 is set at $2070. This figure represents the payment standard for Section 8 housing, which is the amount the government will pay toward your tenant's rent. It is important to note that this does not mean you can charge $2070; rather, it is the maximum amount the Housing Authority will pay on behalf of eligible tenants.
In comparison to the local average rent, which is currently N/A, the FMR of $2070 provides a benchmark for determining if your property meets the criteria for participation in the Section 8 program. If your market rent is below this threshold, you are more likely to be accepted into the program.
The demand for affordable housing in ZIP 75485 is reflected in the percentage of renters who could benefit from Section 8 assistance, which stands at N/A%. This indicates that there is a significant portion of the population seeking rental properties that fall under the FMR. Landlords should consider this high demand when evaluating the potential benefits of offering a Section 8 rental unit.
When acquiring a new rental property, the typical cost in ZIP 75485 is N/A. While this does not directly affect your decision to participate in Section 8, it is useful to understand the overall cost of investment in this area. The FMR helps ensure that the government's contribution will cover a substantial portion of your expenses, making it a viable option for first-time Section 8 landlords.
Before finalizing your decision to enter the Section 8 program with your first rental property, it is crucial to verify that your property meets all the necessary qualifications and requirements. This includes ensuring that the rent you plan to charge is reasonable and competitive with the FMR of $2070. By doing so, you can confidently move forward with your Section 8 rental venture, knowing that you have taken the necessary steps to comply with the program's guidelines.
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.