Location: Cherokee County, TX | Metro: Tyler, TX MSA
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 | $990 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,320 | $208,360 | 0.63% | D |
| 3BR | $1,740 | $347,704 | 0.5% | F |
| 4BR | $1,910 | $516,918 | 0.37% | F |
U.S. Census Bureau data (2024)
Bullard, TX, in ZIP code 75757, is a residential neighborhood with a population of 14,328. Only 16.4% of the residents are renters, indicating a primarily owner-occupied community. The median household income stands at $91,165, suggesting a middle to upper-middle-class area. The median home value is $370,446, reflecting a stable housing market where homes are relatively expensive.
The economic landscape for rental properties in this ZIP code is defined by the Fair Market Rent (FMR) set by the Department of Housing and Urban Development (HUD) for Section 8 vouchers. For fiscal year 2024, the FMR for ZIP 75757 is $1,290. This is slightly higher than the reported market rent of $1,215, based on Census American Community Survey (ACS) data. The disparity between the FMR and the market rent suggests that there is potential for landlords to benefit from the Section 8 program, as they can receive a rate above the local average.
Given the low percentage of renters and the relatively high median income, ZIP 75757 might be more suitable for a hands-on value-add buyer rather than a hands-off voucher operator. The value-add strategy could involve improving property quality to command rents closer to the FMR, thereby increasing the profit margin for landlords. While the hands-off approach may still yield returns due to the slightly elevated FMR, the opportunity for significant upside through active management and improvement appears more promising in this context.
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.