Location: Somervell County, TX | Metro: Hood County, TX
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 | $1,010 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,330 | $226,298 | 0.59% | F |
| 3BR | $1,730 | $297,513 | 0.58% | F |
| 4BR | $2,190 | $451,662 | 0.48% | F |
| 5BR | $2,540 | $599,096 | 0.42% | F |
U.S. Census Bureau data (2024)
The ZIP code 76048, located in Granbury, TX, presents an interesting landscape for both renters and landlords. The median household income in this area stands at $70,346, which is a solid figure. However, when compared to the market rate rent of $1,594 (ZORI), the financial strain on households becomes apparent. This market rate represents approximately 28.4% of the median income, which is higher than the recommended guideline of 30% for housing affordability.
To put this into perspective, the Fair Market Rent (FMR) set by HUD for the metro area in fiscal year 2026 is $1,300. This amount is significantly lower than the ZORI, indicating a substantial affordability gap for renters in Granbury. A household earning the median income would find it easier to manage their budget if they could secure a rental unit priced closer to the FMR rather than the market rate.
In ZIP 76048, 26.4% of the 27,000 residents are renters. Given the high market rate rents, this means that a considerable portion of the renting population might struggle to find affordable housing. Landlords who offer units within the FMR range could attract a larger pool of potential tenants, especially those who rely on government assistance such as Section 8 vouchers.
The takeaway for landlords considering whether to accept voucher payments or focus on cash-paying tenants is clear. While accepting voucher payments might seem less lucrative at first glance, given the FMR of $1,300, it could be a strategic move to ensure consistent occupancy and avoid the risks associated with a high vacancy rate. Additionally, catering to voucher holders can help landlords tap into a steady stream of tenants who are financially supported by the government, ensuring timely rent payments. For those landlords aiming to maximize short-term profits, cash-paying tenants might offer higher rents, but they should be prepared for increased competition and possibly longer periods of vacancy.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.