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 | $1,310 |
| 1 Bedroom | $1,330 |
| 2 Bedrooms | $1,570 |
| 3 Bedrooms | $2,050 |
| 4 Bedrooms | $2,580 |
| 5 Bedrooms | $2,993 |
| 6 Bedrooms | $3,352 |
| 7 Bedrooms | $3,620 |
| 8 Bedrooms | $3,801 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,570 | $246,735 | 0.64% | D |
| 3BR | $2,050 | $330,461 | 0.62% | D |
| 4BR | $2,580 | $427,325 | 0.6% | D |
| 5BR | $2,993 | $497,275 | 0.6% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 76040, located in Fort Worth, Texas, within Tarrant County, operate under specific parameters that landlords should understand. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for FY 2024 is set at $1470. This figure is important because it defines the maximum amount that a Section 8 voucher will cover for a two-bedroom unit in this specific area.
Local market rents, as measured by ZORI (Zillow Observed Rent Index), run at $1291 for a similar two-bedroom unit. This indicates that the SAFMR exceeds the average market rent, which can be beneficial for landlords who are willing to participate in the program. However, the actual reimbursement received by landlords is determined by a combination of factors including the tenant's portion of the rent and utility allowances.
A Section 8 voucher holder typically pays 30% of their adjusted income towards rent. If we assume an average adjusted income of $1800 per month, the tenant would pay approximately $540 toward rent. The remainder of the rent is covered by the government, up to the SAFMR limit. In this case, if the market rent is $1291, the government would pay the difference between the tenant's contribution and the market rent, which is $751.
Utility allowances vary but are generally included in the voucher amount. For a two-bedroom apartment, the allowance might range from $100 to $200 per month. This means that the total reimbursement a landlord could receive, including utilities, would be around $851 to $951 for a two-bedroom unit priced at $1291.
Given these numbers, landlords participating in Section 8 in ZIP 76040 can expect a reimbursement close to the market rent for a two-bedroom unit. Since the SAFMR is higher than the ZORI, there is no significant reimbursement gap. Instead, landlords are likely to see a surplus when the total reimbursement aligns closely with the SAFMR, ensuring they receive the full market rent without any shortfall.
In summary, landlords in ZIP 76040 can anticipate a stable and predictable income stream from Section 8 tenants, with the government covering the majority of the rent up to $1470, leaving a surplus when compared to the local market rent of $1291. This makes Section 8 participation financially viable and attractive for landlords in this specific ZIP code.
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.