Location: Fort Worth-Arlington, TX | Metro: Fort Worth-Arlington, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,470 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,750 |
| 3 Bedrooms | $2,290 |
| 4 Bedrooms | $2,870 |
| 5 Bedrooms | $3,329 |
| 6 Bedrooms | $3,728 |
| 7 Bedrooms | $4,026 |
| 8 Bedrooms | $4,227 |
The Fair Market Rent (FMR) for ZIP code 76113 in Texas for fiscal year 2024 is set at $1620. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you will receive; rather, it's a guideline for how much you can ask tenants to pay towards their rent.
To understand the implications of this FMR, let's compare it to the average market rent in the area, which is currently N/A. While we don't have specific data on local rents, the FMR gives you an idea of what is considered fair and reasonable for the region. If your property is priced above $1620, it would be outside the scope of what the vouchers cover, potentially limiting your tenant pool to those who can supplement the voucher with additional funds.
The demand for rental properties in ZIP 76113 is reflected in the percentage of renters in the area, which stands at N/A%. This indicates the proportion of residents who are likely to be interested in Section 8 housing, giving you a sense of the potential market size for your property. A higher percentage suggests greater demand for affordable housing options.
When acquiring a new property, the initial cost is a critical factor. The median home value in ZIP 76113 is N/A, which can help you estimate the acquisition cost of a property suitable for a Section 8 rental. Keep in mind that the value of the property should align with the FMR to ensure it's a viable investment under the program.
Before finalizing your decision to participate in Section 8 with a property in ZIP 76113, verify that the property meets all the necessary quality standards and safety requirements set by the housing authority. This ensures that your property will be eligible for the program and minimizes the risk of any issues that could delay or prevent tenancy.
Data Sources: FMR data from HUD (2027).
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.