Section 8 Fair Market Rent (FMR) for ZIP 76119 - 2027

Investment Score for ZIP 76119

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	$1,160
1 Bedroom	$1,180
2 Bedrooms	$1,390
3 Bedrooms	$1,820
4 Bedrooms	$2,280
5 Bedrooms	$2,645
6 Bedrooms	$2,962
7 Bedrooms	$3,199
8 Bedrooms	$3,359

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,390	$163,159	0.85%	C
3BR	$1,820	$191,311	0.95%	C
4BR	$2,280	$259,580	0.88%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 76119 (Fort Worth, TX) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) figures for ZIP code 76119 in Fort Worth, TX, indicate that the cost of renting varies significantly by unit size. For a two-bedroom apartment, the FMR is set at $1400 per month. However, the actual rental market in this area is considerably higher, with the Zillow median price for a two-bedroom home being $161,864. This translates into a price-to-FMR ratio of 9.6x, which means that the average rent for a two-bedroom unit is likely much higher than the FMR. Specifically, if we assume a typical mortgage payment of about $700-$800 per month based on the median price, the total monthly rent would be around $1400-$1600, far exceeding the FMR of $1400. This discrepancy creates significant constraints for Section 8 voucher holders. They can only afford units that do not exceed the FMR, making it challenging to find suitable housing options in a market where rents are substantially higher. The FMR for a three-bedroom unit is $1850, while a four-bedroom unit is $2290. These figures represent 32.8% and 44.7% of the median household income of $51,267, respectively. Given these high ratios, voucher holders must often settle for smaller units or face difficulties finding affordable housing. #### Affordability & Renter Profile ZIP code 76119 has a population of 52,974, with 45.3% of residents being renters. This indicates a substantial demand for rental properties in the area. The occupancy rate of 92.6% suggests that the market is relatively tight, with most available units being occupied. This high occupancy rate can drive up rents, especially when there is a limited supply of affordable units. Given the median household income of $51,267, many residents may struggle to afford market-rate rents. The FMR for a two-bedroom unit is $1400, which represents 32.8% of the median income. This implies that a significant portion of the population may rely on assistance programs like Section 8 to manage their housing costs. However, the high price-to-FMR ratio of 9.6x indicates that even with vouchers, renters might still face affordability challenges due to the overall high cost of living in the area. #### Investor Angle From an investor perspective, the ZIP code 76119 presents both opportunities and challenges. The FMR for a two-bedroom unit is $1400, which is lower than the actual market rent but still provides a potential cash flow opportunity. Assuming a typical mortgage payment of $700-$800 based on the median home price, the net monthly cash flow for a two-bedroom property could range from $600-$800, depending on the exact mortgage terms and other expenses such as maintenance and utilities. However, the high price-to-FMR ratio of 9.6x suggests that the market is overpriced relative to the FMR, which could pose risks for investors. If the market were to correct itself and rents fall closer to the FMR, investors might see a reduction in their cash flow. Additionally, the high demand for rental properties could lead to increased competition among landlords, potentially driving down rents or requiring higher quality improvements to attract tenants. In terms of investment grade, the tight market and high occupancy rate suggest that the area is stable and likely to maintain demand for rental properties. However, the high price-to-FMR ratio indicates that the market is currently overvalued, which could make it less attractive for long-term investments focused solely on Section 8 vouchers. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the high price-to-FMR ratio, investors should consider focusing on smaller units, such as one-bedroom apartments, which have an FMR of $1200. This would allow them to stay within the FMR limits while still potentially achieving positive cash flow, especially if they can secure properties at a lower price point. 2. **Target Underserved Areas**: Investors should look for areas within ZIP 76119 that are underserved by affordable housing options. By identifying neighborhoods with lower occupancy rates or fewer rental properties, they can position themselves to capture a segment of the market that is currently underrepresented. 3. **Consider Property Improvements**: To remain competitive in a tight rental market, investors should consider making improvements to their properties that enhance their appeal to tenants. This could include upgrades to appliances, finishes, and amenities that make the units more desirable and potentially command higher rents within the FMR limits. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 76119 is to **Hold**. While the area offers a stable and tight rental market, the high price-to-FMR ratio makes it challenging to achieve positive cash flow without significant property improvements or strategic targeting of smaller units. Investors should carefully evaluate the potential returns and risks before committing to purchases in this ZIP code.

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.