Location: Wise County, TX | Metro: Wise County, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
The ZIP code 76246, located in Wise County, TX, has a Fair Market Rent (FMR) of $1180 for FY 2024. This compares closely to the average FMR for a two-bedroom home in Wise County, which is $1175. Given the lack of specific data on market rent, home value, and renter share for ZIP 76246, it can be inferred that this area is likely a mid-tier neighborhood within its metro.
The absence of market rent and home value data suggests that 76246 might not have extensive rental activity or property sales recorded compared to other ZIP codes in Wise County. However, the FMR being slightly above the county average indicates that it could still attract tenants who benefit from housing assistance programs such as Section 8.
Without detailed renter share information, it's challenging to determine if 76246 is a particularly attractive area for Section 8 tenants. Typically, a high renter share with below-average home values would signal a potential sweet spot for Section 8 properties. Since such data is not available, landlords and investors should focus on the FMR as a reliable indicator of the rental market in this area.
To conclude, ZIP 76246 appears to be a mid-tier neighborhood within the Wise County, TX HUD Metro FMR Area, with a slight edge over the county average in terms of FMR. For those interested in Section 8 investments, this ZIP code offers a reasonable opportunity given its proximity to the county's average FMR.
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.