Section 8 Fair Market Rent (FMR) for ZIP 76307 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 76307 is located in Wichita Falls, TX. It is categorized as a PO Box ZIP Code, which means it serves primarily postal boxes and there is limited demographic data available for this type of ZIP Code. According to the data, the median age for ZIP code 76307 is 32.8 years old.

Due to the nature of the ZIP code being a PO Box area, specific figures such as the population, percentage of renters, median income, and median home value are not provided. However, we can still analyze the rental economics relevant to Section 8 investors.

The Fair Market Rent (FMR) for ZIP code 76307 in fiscal year 2024 is set at $1040. This figure is crucial for landlords and small-portfolio investors considering participation in the Section 8 program. While precise market rent figures are not available, the FMR provides a benchmark for rental rates in subsidized housing.

Given the limited residential data and the focus on PO Boxes, ZIP code 76307 might be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The absence of detailed demographic and housing data suggests that the area may lack the typical characteristics needed for active property management strategies focused on enhancing property value through renovations or tenant selection.

Landlords operating in this ZIP code should expect a straightforward process aligned with the Section 8 guidelines, with the primary goal being to provide affordable housing options for eligible tenants. The $1040 FMR rate offers a clear guideline for setting rents, ensuring compliance with federal standards while maintaining financial viability for the landlord.

Data Sources: FMR data from HUD (2027).

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.