Location: Sherman-Denison, TX | Metro: Sherman-Denison, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
U.S. Census Bureau data (2024)
The ZIP code 76264, located within the Sherman-Denison, TX MSA, presents a unique profile when compared to typical ZIP codes in this metropolitan area. With a Fair Market Rent (FMR) of $1050 for fiscal year 2024, it slightly exceeds the average market rent of $997. This indicates that 76264 is positioned above the median rental price range but still within reach for many renters.
The lack of available home value data for 76264 suggests that it may be predominantly a rental market. The renter share in this ZIP is 18.5%, which is higher than the average for the Sherman-Denison, TX MSA. A higher-than-average renter share combined with the absence of home value data can be indicative of a strong rental market, potentially influenced by Section 8 housing programs.
Inferentially, 76264 appears to be a mid-tier neighborhood within the Sherman-Denison, TX MSA. It offers rents that are competitive yet slightly elevated, making it neither a budget-friendly value pocket nor a premium sub-market. However, the higher renter share without corresponding home value data points to a potential sweet spot for Section 8 investors. This ZIP could attract a significant number of tenants eligible for Section 8 subsidies, thus offering steady rental income and a lower risk of vacancy.
Landlords and small-portfolio investors should consider 76264 for its balance between affordability and demand. While the rents are above average, the higher proportion of renters suggests a robust tenant pool, particularly for those seeking subsidized housing options. This makes 76264 an attractive location for investment properties aimed at Section 8 participants.
Data Sources: FMR data from HUD (2027). 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.