Location: Fort Worth-Arlington, TX | Metro: Fort Worth-Arlington, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,780 |
| 1 Bedroom | $1,810 |
| 2 Bedrooms | $2,130 |
| 3 Bedrooms | $2,790 |
| 4 Bedrooms | $3,500 |
| 5 Bedrooms | $4,060 |
| 6 Bedrooms | $4,547 |
| 7 Bedrooms | $4,911 |
| 8 Bedrooms | $5,157 |
U.S. Census Bureau data (2024)
ZIP code 76016, located in Arlington, TX, falls within the Fort Worth-Arlington, TX HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 76016 in fiscal year 2024 is set at $2,180. This figure is higher than the market rent of $1,840, indicating that the subsidized rental rate exceeds the average local rent. The median home value in 76016 is $342,728, which is likely representative of the broader metro area's housing costs.
The renter share in 76016 stands at 16.4%, suggesting a moderate proportion of renters compared to homeowners. When analyzing these figures against typical ZIP codes within the Fort Worth-Arlington, TX HUD Metro FMR Area, it appears that 76016 leans towards being a mid-tier neighborhood. Its home value aligns closely with the overall metro area, and the renter share is neither exceptionally low nor high, placing it in a balanced position.
The divergence between the FMR and market rent is noteworthy. With an FMR above the market rent and a reasonable renter share, 76016 could be considered a sweet spot for Section 8 landlords and investors. This scenario often indicates a location where the federal subsidy covers a significant portion of the rental cost, making it attractive for those who qualify for assistance.
While 76016 isn’t necessarily a premium sub-market given its median home value and renter share, it also doesn’t fit the criteria of a value pocket, which would typically have lower home values and a higher proportion of renters. Instead, it represents a middle ground where the benefits of Section 8 tenancy can still be realized without the associated risks of lower-value areas.
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.