Location: Rusk County, TX | Metro: Rusk County, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
The economics of Section 8 in ZIP code 75687 are straightforward. The SAFMR (Standard Area Fair Market Rent) for a two-bedroom apartment is set at $1010 per month for fiscal year 2024. This figure is specific to this ZIP code, reflecting the localized rental market conditions.
Section 8 vouchers cover a significant portion of the rent but not all. The total reimbursement to landlords consists of the voucher amount plus the tenant's contribution towards rent. Typically, tenants are required to pay 30% of their adjusted income toward rent. For simplicity, let's assume an average adjusted income of $1500 per month, which would mean the tenant contributes $450 monthly.
The voucher payment itself is calculated based on the SAFMR minus the tenant's contribution. In ZIP 75687, if we use the $1010 SAFMR and subtract the $450 tenant contribution, the voucher will pay $560 towards the rent. However, this does not include utility allowances. Utility allowances vary by location and family size, but for a two-bedroom unit, they typically range between $200 to $300 per month.
If we take the higher end of the utility allowance range at $300, the total reimbursement to the landlord would be $860 ($560 for rent + $300 for utilities). This leaves a significant gap compared to the SAFMR of $1010. Landlords in ZIP 75687 would receive $150 less per month than the SAFMR when renting to a Section 8 tenant with a two-bedroom voucher.
To summarize, the typical reimbursement for a two-bedroom apartment under a Section 8 voucher in ZIP 75687 is $860, leaving a gap of $150 compared to the SAFMR. This means landlords must decide whether to accept a slightly lower rent or seek other means to bridge this gap, such as reducing maintenance costs or increasing efficiency in property management.
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.