Section 8 Fair Market Rent (FMR) for ZIP 75973 - 2027

Location: Shelby County, TX | Metro: Shelby County, TX

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$880
1 Bedroom	$1,000
2 Bedrooms	$1,160
3 Bedrooms	$1,610
4 Bedrooms	$1,720
5 Bedrooms	$1,995
6 Bedrooms	$2,234
7 Bedrooms	$2,413
8 Bedrooms	$2,534

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,453

Median Household Income

$67,023

Housing Units

1,554

Renter Percentage

13.5%

Occupancy Rate

72.4%

Renter Occupied

152

The ZIP code 75973, located in Shelbyville, TX, offers an interesting mix of yield and stability for real estate investors. Based on the data, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is $1,070, while the market rent is slightly lower at $1,024. The median home value is significantly higher at $231,214, indicating a potential for capital appreciation.

On the stability front, 13.5% of the residents are renters, which suggests that the rental market is not extremely robust. However, the average household income of $67,023 provides a solid financial foundation for tenants, potentially leading to lower vacancy rates and more reliable cash flows. The lack of data on days on market (DOM) makes it challenging to assess the speed of property turnover, but the income figure is reassuring.

Given these figures, ZIP 75973 leans towards being a steady-cashflow zone. The relatively high median home value combined with moderate rental rates suggests that flipping properties might not be as profitable as in other areas. Instead, the focus should be on generating consistent rental income. The FMR and market rent figures are close, indicating that the rental market is somewhat stable and aligned with government guidelines.

Investors should consider the following:

Rental Income: The $1,024 market rent is a key figure for assessing monthly cash flow.
Capital Appreciation: The $231,214 median home value presents opportunities for long-term growth.
Tenant Reliability: With an average income of $67,023, tenants are likely to be financially stable, reducing the risk of delinquency or default.

While the rental market share is modest, the overall economic indicators point towards a market that is well-suited for buy-and-hold strategies rather than quick flips. This makes ZIP 75973 a good choice for landlords and small-portfolio investors looking for steady returns over time.

Data Sources: FMR data from HUD (2027). 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.