Location: Jack County, TX | Metro: Wise County, TX HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,580 | $362,410 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 76431 is situated in a predominantly residential area of Denton County, Texas. This neighborhood is characterized by a relatively small population of 4,494 individuals, with only 14.3% being renters. The median household income here stands at a robust $86,875, indicating a middle to upper-middle class community. The median home value in the area is $357,000, reflecting the established nature of the housing stock and the general affluence of the residents.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 76431, as determined by HUD for fiscal year 2024, is set at $1,170. In contrast, the market rent based on Census ACS data is $1,308. This suggests that there is a slight premium in the market over the government-set voucher rates, which could be an important consideration for landlords and investors.
Given these economic parameters, ZIP 76431 is more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The low percentage of renters and the high median income indicate that tenants receiving vouchers might represent a smaller segment of the market. Therefore, focusing on maintaining properties and collecting stable rents through the Section 8 program would likely yield better returns than attempting to renovate and increase property values, given the limited demand for subsidized housing in this affluent area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.