Location: Palo Pinto County, TX | Metro: Fort Worth-Arlington, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 76066 in fiscal year 2024 is set at $910. This figure represents the payment standard for Section 8 housing vouchers, which is the amount that the government will pay toward your tenant's rent. It does not mean you should set your rent at $910; rather, it is the maximum subsidy the government will provide for eligible tenants in this area.
In comparison, the average market rent in ZIP 76066, according to recent Census American Community Survey (ACS) data, stands at $1,257. This suggests that there is a potential gap between the government subsidy and the actual market rent, which you can bridge by setting your rent appropriately. However, keep in mind that the FMR serves as a cap on the government's contribution, so your total rent cannot exceed $910 plus any additional amount you choose to charge above the FMR.
The renter share in this ZIP code is 10.2%, indicating that roughly one out of every ten households in the area are renters. This statistic points to a moderate demand for rental properties, particularly those that qualify under Section 8 programs. The acquisition cost for a property in this ZIP code averages around $435,076, which gives you an idea of the investment required to enter the market here.
To ensure that your first Section 8 rental venture in ZIP 76066 is successful, verify that your property meets all the eligibility requirements for the program, including safety, health, and habitability standards. This will help you avoid any costly surprises down the line and ensure that you can receive the full subsidy payment of $910 per month without issues.
With these numbers in mind, you can make an informed decision about whether the financials align with your investment goals. The local market rent is higher than the FMR, suggesting that you might need to offer a competitive price or additional amenities to attract tenants. Nonetheless, the combination of the government subsidy and the local rental demand makes ZIP 76066 a viable option for your first Section 8 rental property.
Data Sources: FMR data from HUD (2027). 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.