Location: Harrison County, TX | Metro: Longview, TX HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,460 | $180,084 | 0.81% | C |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 75602 in fiscal year 2024 is set at $990. This figure represents the maximum amount the Housing Choice Voucher (Section 8) program will pay towards a tenant's rent. It does not reflect the total rent you can charge your tenants; it's the reimbursement limit for the government.
In comparison, the local Zillow Observed Rent Index (ZORI) stands at $1,225. This means that while the government might cover up to $990, landlords can still charge tenants the full market rate, which is higher. The difference between the two figures is covered by the tenant, who must pay the remainder out-of-pocket.
The 37.3% renter share indicates that nearly 37% of households in 75602 are renters, suggesting a significant demand for rental properties. Given the FMR and the local rent index, there is a notable gap between what the government pays and what tenants can afford, which presents an opportunity for landlords to secure steady rental income.
When acquiring a property in this area, consider that the median home value is around $140,548. This figure helps you assess the potential acquisition cost of a property suitable for a Section 8 rental. With a solid understanding of these financials, you can make informed decisions about whether the investment aligns with your financial goals.
Before finalizing any decision, verify that the property meets all Housing Quality Standards (HQS). These standards ensure that the property is safe and habitable, which is a prerequisite for participation in the Section 8 program. This step is crucial to avoid delays and additional costs later on.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.