Location: Cooke County, TX | Metro: Sherman-Denison, TX MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,700 | $336,126 | 0.51% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 76233 in fiscal year 2024 is set at $1360. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for the Section 8 program, which means it's the maximum amount that HUD will pay towards your tenant's rent. It does not reflect the actual rent you can charge.
In comparison, the average rent for the area, according to Census ACS data, is $1,067. This suggests that the FMR is higher than the typical market rate, which could be beneficial for landlords participating in the Section 8 program.
The renter share in ZIP 76233 is 25.3%, indicating that nearly one-quarter of the residents are renters. This points to a steady demand for rental properties in the area, making it a viable market for Section 8 rentals.
If you're considering acquiring a property in this ZIP code, you should know that the median home value is around $382,234. This is an important figure when assessing the potential investment and whether the income from a Section 8 rental can justify the purchase price.
Before you proceed with adding a Section 8 rental to your portfolio, ensure that your property meets all the required quality standards. HUD sets specific criteria for housing units under the Section 8 program, and failing to meet these can result in non-payment or penalties.
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.