Location: Fort Worth-Arlington, TX | Metro: Fort Worth-Arlington, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,470 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,750 |
| 3 Bedrooms | $2,290 |
| 4 Bedrooms | $2,870 |
| 5 Bedrooms | $3,329 |
| 6 Bedrooms | $3,728 |
| 7 Bedrooms | $4,026 |
| 8 Bedrooms | $4,227 |
ZIP code 76007, located within the Fort Worth-Arlington, TX HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1620 for fiscal year 2024. This figure is crucial for understanding the rental dynamics in the area compared to other ZIP codes within the same metro region.
To provide context, let's examine how 76007 stacks up against typical ZIP codes in the Fort Worth-Arlington, TX HUD Metro FMR Area. The FMR of $1620 is a direct measure of what HUD considers fair rent for a two-bedroom apartment in the area. While specific market rent, home value, and renter share percentages are not available for 76007, we can make some inferences based on the given FMR and general trends observed in similar metropolitan areas.
In many metropolitan regions, ZIP codes with lower FMRs often indicate value pockets where rents are relatively affordable compared to the overall metro area. Conversely, higher FMRs can signal premium sub-markets with potentially higher property values and rents. Given that 76007's FMR is $1620, it suggests that the area is likely positioned as a mid-tier neighborhood within the Fort Worth-Arlington, TX HUD Metro FMR Area. This is because FMRs typically reflect a range of rental prices that cater to various income levels, with $1620 being neither excessively low nor high.
The absence of specific market rent and home value data for 76007 means we cannot definitively state its position relative to these metrics within the metro. However, if we assume that the market rent generally aligns closely with the FMR, then the area would continue to be seen as a mid-tier neighborhood. If market rents were significantly lower than $1620, it could suggest a value pocket, whereas if they were higher, it might point towards a premium sub-market.
Regarding the renter share, which is also not available for 76007, a high percentage of renters in an area with below-average home values often indicates a favorable environment for Section 8 tenants. Since we do not have this information, we cannot confirm if 76007 fits this profile. However, landlords and small-portfolio investors should be aware of the potential for such dynamics to exist, especially if 76007 has a significant number of rental units.
In conclusion, based on the available FMR data, ZIP code 76007 appears to be a mid-tier neighborhood within the Fort Worth-Arlington, TX HUD Metro FMR Area. To determine if it is a value pocket or a premium sub-market, additional data on market rents and home values would be necessary. Landlords and investors should monitor these factors to make informed decisions about their properties in 76007.
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.