Section 8 Fair Market Rent (FMR) for ZIP 76466 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$810
1 Bedroom	$910
2 Bedrooms	$1,060
3 Bedrooms	$1,470
4 Bedrooms	$1,780
5 Bedrooms	$2,065
6 Bedrooms	$2,313
7 Bedrooms	$2,498
8 Bedrooms	$2,623

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the available data for ZIP code 76466, the analysis of the Section 8 program reveals a significant discrepancy between the Fair Market Rent (FMR) and the actual market rents. For fiscal year 2026, the FMR is set at $980. However, the median market rent is not available, indicating a lack of comprehensive data on current rental prices in this area. Given that the FMR is lower than the typical market rent, landlords who accept Section 8 vouchers must understand the implications of renting below open-market rates. This scenario often transforms properties into yield plays, where the focus shifts from achieving the highest possible rent to ensuring stable occupancy and steady cash flow. In ZIP 76466, with 26.6% of residents being renters, there is a notable segment of the population that could benefit from and be attracted to Section 8 properties. The median home value in ZIP 76466 is $207,952, according to recent data. While this figure provides insight into homeownership costs, it does not directly correlate with rental yields. The median income in the area is $128,260, which suggests a relatively affluent community. Despite this, the poverty rate stands at 13.4%, highlighting the need for affordable housing options like those provided through the Section 8 program. To summarize, landlords in ZIP 76466 should consider the following:

The gap between the FMR and the likely higher market rent means that accepting Section 8 vouchers can be seen as a strategic decision to ensure consistent occupancy.

With 26.6% of the population renting, there is a substantial market for affordable housing, making Section 8 properties attractive to a portion of the community.

The median income of $128,260 contrasts with the 13.4% poverty rate, indicating a mixed economic landscape where affordable housing is crucial for many residents.

While the exact market rent is unavailable, the lower FMR of $980 compared to potential market rates means landlords might need to adjust their expectations for rental income.

This analysis underscores the importance of understanding local rental dynamics and the role of Section 8 vouchers in maintaining a balanced housing market in ZIP 76466.

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.