Section 8 Fair Market Rent (FMR) for ZIP 76104 - 2027

Investment Score for ZIP 76104

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,420
1 Bedroom	$1,430
2 Bedrooms	$1,690
3 Bedrooms	$2,210
4 Bedrooms	$2,780
5 Bedrooms	$3,225
6 Bedrooms	$3,612
7 Bedrooms	$3,901
8 Bedrooms	$4,096

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,690	$154,128	1.1%	B
3BR	$2,210	$195,184	1.13%	B
4BR	$2,780	$258,573	1.08%	B

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the provided data, ZIP 76104 in Fort Worth, TX, can be best categorized as an appreciation play within a Section 8 portfolio strategy. This classification is supported by the fact that the area has a 0.3% price-cut share, indicating that properties here are generally valued appropriately and not often discounted. Additionally, the N/A-day DOM (Days On Market) suggests that homes in this ZIP code sell quickly once listed, further reinforcing its potential for capital appreciation.

The HUD Fair Market Rent (FMR) for ZIP 76104 in fiscal year 2024 is set at $1380. Comparatively, the market rent is slightly higher at $1,479, providing a modest spread that benefits landlords. The median home value in ZIP 76104 is $186,566, making it an affordable entry point for investment properties. Despite these figures, the key driver for considering ZIP 76104 as an appreciation play is the strong rental demand and relatively quick property turnover.

With a renter share of 63.1%, there is a significant portion of the population leasing their homes, creating a steady demand for rental properties. The median income of $61,658 ensures that tenants have the financial stability to meet their rental obligations, thereby reducing the risk of default. The economic outlook for Fort Worth, particularly in ZIP 76104, is positive, with projected job growth over the next decade surpassing the national average. This growth will likely support continued rental demand and potentially increase property values.

While the area does offer some cash-flow benefits due to the slight premium in market rent over FMR, the primary focus should be on the long-term appreciation potential. Landlords and small-portfolio investors should consider the low median home value and the quick turnover of properties as indicators of a market that is poised for growth. Investing in ZIP 76104 aligns well with a strategy aimed at building equity through property appreciation, rather than maximizing short-term rental income.

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.