Location: Wise County, TX | Metro: Dallas, TX HUD Metro FMR Area
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 | $1,990 |
| 1 Bedroom | $2,050 |
| 2 Bedrooms | $2,410 |
| 3 Bedrooms | $3,030 |
| 4 Bedrooms | $3,850 |
| 5 Bedrooms | $4,466 |
| 6 Bedrooms | $5,002 |
| 7 Bedrooms | $5,402 |
| 8 Bedrooms | $5,672 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,030 | $347,122 | 0.87% | C |
| 4BR | $3,850 | $436,562 | 0.88% | C |
| 5BR | $4,466 | $491,679 | 0.91% | C |
U.S. Census Bureau data (2024)
The ZIP code 76247 stands out due to its unique demographic and economic characteristics. With a total population of 21,726 residents, this area has a relatively low rental rate at 16.4%, indicating that the majority of the inhabitants prefer homeownership. This preference is further underscored by the median home value of $407,960, which is significantly higher than the national average. Additionally, the median income of $124,383 suggests a prosperous community where residents can afford higher costs associated with living in the area.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 76247 is set at $2,250 for fiscal year 2024. In contrast, the market rent, measured by the ZORI index, is $1,996. This difference highlights an opportunity for landlords who accept vouchers, as they can potentially charge above the market rate without the risk of vacancy typical in competitive rental markets. However, the decision to participate in the Section 8 program should also consider the administrative requirements and potential tenant behavior differences.
The data signature for ZIP 76247 reads as stable. The high median income and home values indicate a well-established community with little sign of significant change in the near future. The low rental rate suggests that the housing market is predominantly driven by homeowners rather than renters, which could mean steady demand for single-family homes and less pressure on rental prices. For small-portfolio investors, this stability provides a predictable environment for property investments, particularly when leveraging the higher voucher rents compared to market rates.
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.