Location: Dallas, TX | Metro: Dallas, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,560 |
| 1 Bedroom | $1,610 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,380 |
| 4 Bedrooms | $3,030 |
| 5 Bedrooms | $3,515 |
| 6 Bedrooms | $3,937 |
| 7 Bedrooms | $4,252 |
| 8 Bedrooms | $4,465 |
The ZIP code 76204 is located in Denton, TX, and represents a unique blend of urban and suburban characteristics. The demographic details for this area are currently limited; however, it is known for its youthful population with a median age of 30.1 years. This suggests a vibrant community likely comprising students, young professionals, and families.
Regarding housing, the exact percentage of renters and the median income for ZIP 76204 are not available. Nevertheless, the median home value for the area is also unspecified, which indicates a diverse range of property types and values. The lack of specific data points makes it challenging to paint a complete picture but underscores the need for further investigation into local real estate trends.
Moving onto the rent economics, the Fair Market Rent (FMR) for ZIP 76204 in fiscal year 2024 is set at $1840. This figure is crucial for Section 8 landlords and investors as it dictates the maximum rental rate allowed under the federal housing assistance program. In comparison, the market rent for the area is not specified, which could mean that the FMR closely aligns with the local rental market or that there is a significant gap needing exploration.
When considering whether ZIP 76204 fits a hands-off voucher operator or a hands-on value-add buyer, the answer depends on the specific goals of the investor. For those seeking a low-maintenance investment strategy, the FMR provides a stable baseline for rental income. However, for investors interested in actively managing properties to increase their value, the unknowns about market rent and the potential for appreciation in a growing area like Denton offer opportunities for strategic intervention.
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.