Location: Wise County, TX | Metro: Fort Worth-Arlington, TX HUD Metro FMR Area
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 | $830 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,490 | $337,078 | 0.44% | F |
| 4BR | $1,800 | $399,697 | 0.45% | F |
U.S. Census Bureau data (2024)
The market in ZIP 76023 presents a dynamic equilibrium, with factors suggesting both stability and potential shifts. The Fair Market Rent (FMR) for the area is set at $1270 for fiscal year 2024, while the actual market rent, as reported by the Census American Community Survey (ACS), stands slightly lower at $1,106. This indicates that the rental market is currently stable but slightly below the benchmark set by HUD, possibly due to a balanced supply and demand.
A price-cut share of only 0.2% suggests that landlords are not frequently reducing rents to attract tenants, which could imply that demand is steady or that the market is slightly favoring landlords. However, the lack of data on days on market (DOM) for rentals makes it challenging to draw definitive conclusions about the speed at which properties are leased.
The median home value in ZIP 76023 is $367,562, reflecting a moderate level of residential property valuation. This figure can be indicative of the overall economic health and desirability of the area, though it does not directly correlate with rental dynamics.
A noteworthy statistic is the 18.2% renter share, which points to a significant portion of the population preferring or needing to rent rather than buy. This high percentage of renters can create long-term housing pressure, as it signals a persistent demand for rental properties. In areas with a high renter share, there's often an ongoing need for landlords to maintain competitive pricing and conditions to meet the demand.
The snapshot suggests that the rental market in ZIP 76023 is currently neither experiencing a surplus nor a shortage of rental units. Landlords can expect a stable rental environment, with the possibility of slight upward pressure on rents due to the high renter share. This demographic trend supports the notion that rental properties will continue to be in demand, providing a solid foundation for investment in the area.
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.