Location: Wise County, TX | Metro: Wise County, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 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 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 76267 in fiscal year 2024 is set at $1180. This figure represents the payment standard for Section 8 housing vouchers in your area, meaning that if you participate in the program, the Housing Authority will pay up to this amount toward your tenants' rent. It's important to note that this does not necessarily reflect the actual rent you can charge; it is the maximum subsidy they will provide.
In ZIP 76267, the local median gross rent is currently N/A, which suggests that the market rent could be lower or higher than the FMR depending on specific property conditions and location. However, since we don't have exact figures, let's focus on the implications of the FMR.
The fact that the renter share is 0.0% indicates that all eligible tenants would receive full subsidies to cover their rent. This means there is high demand for affordable housing in your area, making Section 8 rentals particularly attractive for securing long-term tenancy.
Regarding the acquisition cost of properties in ZIP 76267, the data shows it as N/A. Without specific figures, it's challenging to provide a direct comparison, but generally, if the acquisition cost is lower than the potential income generated from a Section 8 rental, it could be a worthwhile investment.
Before deciding to accept a Section 8 tenant, ensure that your property meets the Housing Quality Standards (HQS) required by the Housing Authority. These standards are designed to ensure that the rental unit is safe and habitable, and failing to meet them could result in non-payment or termination of the contract.
In summary, with an FMR of $1180 and a 0.0% renter share, landlords in ZIP 76267 can expect a reliable source of income through the Section 8 program, provided their property meets the necessary quality standards. The lack of detailed local rent data makes it essential to research further into the specific rental market dynamics to make informed decisions.
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.