Location: Fort Worth-Arlington, 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 | $2,190 |
| 1 Bedroom | $2,220 |
| 2 Bedrooms | $2,620 |
| 3 Bedrooms | $3,430 |
| 4 Bedrooms | $4,300 |
| 5 Bedrooms | $4,988 |
| 6 Bedrooms | $5,587 |
| 7 Bedrooms | $6,034 |
| 8 Bedrooms | $6,336 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,620 | $318,148 | 0.82% | C |
| 3BR | $3,430 | $690,164 | 0.5% | F |
| 4BR | $4,300 | $927,175 | 0.46% | F |
| 5BR | $4,988 | $1,362,335 | 0.37% | F |
U.S. Census Bureau data (2024)
The ZIP code 76034, located in Colleyville, TX, presents an interesting scenario when viewed from the renter's perspective. The median household income in this area stands at a robust $217,914. However, the market rate for rent is also quite high at $3,263 per month, according to Census ACS data.
To put this into context, let's consider the Federal Market Rent (FMR) standards for the fiscal year 2024, which set the voucher payment at $2,430 for this ZIP code. This means that a household relying on a housing voucher would find it significantly easier to afford rent compared to the market rate, as they would pay less than two-thirds of the market price.
The affordability gap between the market rate and the voucher payment is stark. For a household earning the median income, paying $3,263 in rent would consume a substantial portion of their monthly budget, especially considering other living expenses. On the other hand, a voucher holder would pay considerably less, making rental accommodation much more accessible.
In terms of the rental market dynamics, only a small fraction of the total population—about 3.3%—are renters, indicating a relatively low demand for rental properties in an area predominantly characterized by homeownership. With a total population of 26,103, this translates to approximately 861 households that might be looking for rental properties. Given this limited pool of potential tenants, landlords face stiff competition for those willing and able to pay the market rate.
The takeaway for landlords considering whether to accept vouchers or focus on cash-paying tenants is clear. While the median income suggests a strong financial base among residents, the low percentage of renters indicates a competitive market for finding tenants. Accepting vouchers could provide a steady stream of reliable tenants, albeit at a lower rent rate. Landlords must weigh the benefits of guaranteed payments against the potentially higher rent from cash-paying tenants who might be fewer in number. In either case, understanding the local economic landscape and tenant preferences is crucial for success in the Colleyville rental market.
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.