Section 8 Fair Market Rent (FMR) for ZIP 76377 - 2027

Location: Wichita Falls, TX | Metro: Wichita Falls, TX MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$750
1 Bedroom	$840
2 Bedrooms	$1,030
3 Bedrooms	$1,400
4 Bedrooms	$1,590
5 Bedrooms	$1,844
6 Bedrooms	$2,065
7 Bedrooms	$2,230
8 Bedrooms	$2,342

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

464

Median Household Income

$65,667

Housing Units

341

Renter Percentage

17.3%

Occupancy Rate

57.5%

Renter Occupied

ZIP 76377, located within the Wichita Falls, TX MSA, serves as a solid cash-flow anchor for Section 8 portfolios. The Federal Market Rent (FMR) for FY 2024 is set at $910, which is below the market rent of $942. This creates a spread of $32 per unit, indicating that landlords can secure a stable cash flow through Section 8 contracts without significantly compromising on rental income.

The median home value being N/A suggests that the area has a higher proportion of renters compared to homeowners. With a renter share of 17.3%, landlords can expect a steady demand for rental properties. The median income of $65,667 ensures that there is a sufficient number of potential tenants who qualify for Section 8 assistance, thereby maintaining a consistent stream of qualified applicants.

Despite the lack of specific data on price-cut shares and days on market (DOM), the focus should be on the reliable cash flow generated by the spread between FMR and market rents. This makes ZIP 76377 an ideal choice for investors looking to stabilize their income streams and reduce financial risk associated with fluctuations in the housing market.

To further illustrate, consider the following points:

Cash Flow Stability: The $32 spread between FMR and market rent ensures that landlords receive a predictable and stable income, making ZIP 76377 a dependable part of any Section 8 portfolio.
Tenant Qualification: Given the median income of $65,667, many residents are likely to meet the eligibility criteria for Section 8, ensuring a constant pool of qualified tenants.
Rental Demand: With 17.3% of the population renting, there is a substantial demand for rental properties, reducing the likelihood of vacancies and ensuring a steady cash flow.

In conclusion, ZIP 76377 is best suited as a cash-flow anchor in a Section 8 portfolio strategy due to the favorable spread between FMR and market rents, along with a significant renter share and median income levels that support tenant qualification.

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.