Location: Sherman-Denison, TX | Metro: Sherman-Denison, TX MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,100 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
U.S. Census Bureau data (2024)
The ZIP code 76268, located in a county with a unique demographic profile, stands out due to its low number of residents at just 243 individuals. Only 12.8% of these residents are renters, indicating a predominantly owner-occupied area. Unfortunately, key economic indicators such as median income and median home value are not available, which suggests limited data on the financial health of the community.
Despite the lack of comprehensive local market data, the Fair Market Rent (FMR) for ZIP 76268 has been set at $1280 for fiscal year 2024. This figure represents the maximum amount that landlords can charge tenants who receive housing assistance through the Section 8 program. The absence of market rent data makes it challenging to compare the FMR to typical rental rates, but it does provide a clear guideline for those participating in the voucher system.
The scarcity of renters and the limited availability of economic data paint a picture of a stable, perhaps even stagnant, market. With fewer opportunities for rental properties, landlords and small-portfolio investors should consider the long-term stability of the area before making investment decisions. The reliance on Section 8 vouchers could be a significant factor in securing tenants, especially given the low population density and limited rental demand.
In summary, ZIP 76268 presents a stable yet potentially less dynamic environment for real estate investments. Landlords should focus on understanding the local dynamics and leveraging the Section 8 program effectively, given the FMR of $1280, to ensure steady occupancy and income.
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.