Location: Falls County, TX | Metro: Waco, 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 | $920 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,740 | $265,526 | 0.66% | D |
| 4BR | $1,800 | $460,734 | 0.39% | F |
U.S. Census Bureau data (2024)
The yield for properties in ZIP 76524 can be assessed by comparing the Fair Market Rent (FMR) of $1,370 for fiscal year 2024 against the market rent of $1,135. This indicates a potential for higher rental yields if properties can be leased at or near FMR levels. The median home value of $261,279 also plays a role in determining the yield, especially when considering the purchase price versus potential rental income.
In terms of stability, the ZIP code has a 17.1% renter occupancy rate, which is relatively low compared to typical urban areas. This suggests a less volatile market with potentially fewer turnovers. However, the lack of data on days on market (DOM) and the average income of $69,286 could indicate challenges in assessing the overall financial stability of the area. A lower income level might affect the ability of tenants to consistently pay higher rents.
Based on these figures, ZIP 76524 appears to be more of a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The higher FMR suggests opportunities for better rental returns, but the lower renter occupancy rate and income levels imply a need for caution to ensure consistent cash flow and tenant reliability.
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.