Section 8 Fair Market Rent (FMR) for ZIP 76249 - 2027

Location: Wise County, TX | Metro: Dallas, TX HUD Metro FMR Area

Investment Score for ZIP 76249

N/A

Monthly Rent (2BR)

$1,950

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,610
1 Bedroom	$1,660
2 Bedrooms	$1,950
3 Bedrooms	$2,450
4 Bedrooms	$3,120
5 Bedrooms	$3,619
6 Bedrooms	$4,053
7 Bedrooms	$4,377
8 Bedrooms	$4,596

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$2,450	$303,743	0.81%	C
4BR	$3,120	$361,205	0.86%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

10,637

Median Household Income

$120,169

Housing Units

3,486

Renter Percentage

18.4%

Occupancy Rate

95.9%

Renter Occupied

616

ZIP code 76249, located in Texas, is a suburban area characterized by a mix of residential and commercial properties, offering both rental and homeownership opportunities to residents.

The Fair Market Rent (FMR) for ZIP 76249 in fiscal year 2024 is set at $1,860. This figure represents the maximum amount that a household receiving housing assistance through Section 8 can pay for a two-bedroom apartment, indicating the subsidized rental market's price ceiling.
The market rent, as measured by the Zillow Observed Rental Index (ZORI), stands at $1,998. This reflects the average rent charged for unfurnished apartments and houses in the area, suggesting that the unsubsidized rental market slightly exceeds the FMR.
The median home value in ZIP 76249 is $347,025. This provides insight into the overall property values and can be used to gauge potential appreciation and investment opportunities in the homeownership sector.
Renters make up 18.4% of the population in this area, which is lower than the national average, implying a smaller demand for subsidized rentals compared to other regions.
The median income for households in ZIP 76249 is $120,169. This relatively high income level suggests that residents have the financial capacity to afford higher rents and potentially higher property values.

For landlords and small-portfolio investors, the data indicates a competitive rental market where unsubsidized rents are slightly above the FMR, reflecting a balance between affordability and local economic conditions. The lower renter share implies fewer applicants for Section 8 properties, necessitating careful consideration of the tenant pool and potential subsidies. Given the median income, there is a strong financial foundation supporting the ability to pay higher rents, making it advantageous to focus on quality properties that can command premium rates. However, the median home value also points towards a robust homeownership market, which could influence the rental dynamics and competition for tenants. Overall, investors should leverage the high-income environment while being mindful of the limited subsidized rental market.

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.