Section 8 Fair Market Rent (FMR) for ZIP 76433 - 2027
Location: Somervell County, TX | Metro: Erath County, TX
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $990 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$117,702
Housing Authorities Serving ZIP 76433
To determine if you should buy in ZIP code 76433 for Section 8 investments, follow this decision tree:
- Does FMR $1,210 (metro FY 2026) clear debt service on a $484,979 property?
- If your debt service (including mortgage, insurance, and taxes) is less than $1,210 per month, then the answer is Yes. The Fair Market Rent (FMR) covers your expenses, making it financially viable.
- If your debt service exceeds $1,210 per month, then the answer is No. The FMR does not sufficiently cover your costs, leading to financial losses.
- Is market rent $1,181 (Census ACS) above, at, or below FMR?
- If market rent is above $1,210, then the answer is It Depends. While you could potentially charge more than the FMR, Section 8 tenants are limited to paying the lower of the market rent or the FMR. Consider the long-term implications of higher rents versus the stability of Section 8.
- If market rent is exactly $1,210 or slightly below, then the answer is Yes. This aligns well with the FMR, ensuring that you can maximize income while still qualifying for Section 8 tenants.
- If market rent is significantly below $1,210, then the answer is No. Lower market rents reduce the attractiveness of the area for non-Section 8 tenants, limiting your potential rental income.
- Are 11.7% renters + N/A-day DOM enough demand?
- If the Days on Market (DOM) is N/A but there's a substantial demand for rentals, indicated by a high percentage of renters, then the answer is It Depends. A significant portion of renters suggests potential demand, but the lack of DOM data makes it hard to assess how quickly properties are rented out. Investigate further to understand the local rental market dynamics.
- If DOM is low and combined with the 11.7% renters, indicating quick turnover, then the answer is Yes. There's enough demand to ensure your property will be occupied promptly.
- If DOM is high and combined with a low percentage of renters, then the answer is No. High DOM indicates slow turnover, suggesting a weak rental market.
The key figures are: an FMR of $1,210, a market rent of $1,181, and a rental population of 11.7%. These numbers guide the decision-making process based on your specific financial situation and goals.
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.