Location: Dallas, TX | Metro: Dallas, 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 | $1,440 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,750 |
| 3 Bedrooms | $2,200 |
| 4 Bedrooms | $2,800 |
| 5 Bedrooms | $3,248 |
| 6 Bedrooms | $3,638 |
| 7 Bedrooms | $3,929 |
| 8 Bedrooms | $4,125 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,200 | $354,750 | 0.62% | D |
U.S. Census Bureau data (2024)
The ZIP code 76064 is situated in a suburban neighborhood characterized by a relatively small population of 2,513 residents. This area is predominantly owner-occupied, with only 31.0% of the residents being renters. The median income in the ZIP is $73,125, indicating a middle-class community where residents have moderate purchasing power. The median home value stands at $375,769, reflecting a stable housing market with homes that are neither excessively expensive nor cheap.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 76064 as set by HUD for fiscal year 2024 is $1,700. In contrast, the actual market rent, according to the Census Bureau's American Community Survey (ACS), is $1,511. This discrepancy suggests that landlords participating in the Section 8 program could see a slight increase in rental income compared to the local market rates, though the difference is not substantial.
Considering these factors, ZIP 76064 might be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The modest gap between the FMR and market rent indicates limited potential for significant profit increases through property improvements or active management. For those looking to maintain a steady stream of income without extensive involvement in property management, Section 8 properties in this ZIP could offer a reliable investment opportunity. However, for investors seeking to actively enhance property values and rental incomes, other areas with higher disparities between FMRs and market rents would likely present better opportunities.
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.