Location: Dallas, TX | Metro: Dallas, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,220 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,860 |
| 4 Bedrooms | $2,370 |
| 5 Bedrooms | $2,749 |
| 6 Bedrooms | $3,079 |
| 7 Bedrooms | $3,325 |
| 8 Bedrooms | $3,491 |
U.S. Census Bureau data (2024)
1840 is the Fair Market Rent (FMR) for ZIP 76203 as of fiscal year 2024. This figure represents the maximum amount a landlord can charge for a unit under the Section 8 program. Despite the lack of specific market rent and median home value data, the absence of these figures does not diminish the importance of the FMR in guiding rental prices for subsidized units.
While the percentage of renters and median income are not specified, understanding the dynamics of the local real estate market is crucial for landlords and small-portfolio investors. The FMR serves as a benchmark for setting rents that align with government guidelines, ensuring affordability for low-income families while providing a stable income stream for property owners.
The FMR of 1840 is particularly relevant for those participating in the Section 8 program, which aims to provide affordable housing options. Landlords who offer units at this rate can benefit from long-term tenancy stability, as the program subsidizes the difference between the tenant's portion of the rent and the total rent.
In ZIP 76203, the specifics regarding days on market (DOM) and the percentage of price-cut shares are also not provided. However, these metrics would typically indicate the health and competitiveness of the real estate market. A lower DOM suggests a faster turnover rate, while a higher price-cut share might indicate a need for strategic pricing to attract buyers or renters.
To conclude, the Section 8 program remains a viable option for landlords and small-portfolio investors in ZIP 76203, with the FMR of 1840 providing a clear guideline for rental pricing. This ensures compliance with federal standards and supports the goal of offering affordable housing. Verdict: Engaging in Section 8 is a solid strategy for maintaining a steady cash flow and contributing to the local housing needs.
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.