Location: Dallas, TX | Metro: Dallas, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,190 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
U.S. Census Bureau data (2024)
The ZIP code 76623 presents a dynamic rental market, particularly under the purview of Section 8 housing programs. With a Fair Market Rent (FMR) set at $1350 for the fiscal year 2024, this figure acts as a benchmark for rental rates in subsidized housing. The absence of data on market rent, price-cut share, days on market (DOM), and median home value suggests that the market may be less volatile or perhaps lacks extensive recent transactional data, which is common in smaller or more stable markets.
The 51.1% renter share indicates that slightly over half of the households in ZIP 76623 are renters, a statistic that points towards ongoing long-term housing pressure. This high percentage of renters can imply several things: a transient population, affordability concerns for homeownership, or an area where renting is preferred due to lifestyle choices or economic conditions. It also means that any changes in rental policies or costs could significantly impact a large portion of the community, making it a critical consideration for landlords and investors.
In the absence of supply and demand metrics, the high renter share alone suggests that there might be a steady demand for rental properties. However, without knowing the number of available rental units or the rate of new construction, it's challenging to definitively state whether supply outpaces demand or vice versa. What is clear is that the rental sector is a significant part of the housing landscape in ZIP 76623, and understanding the nuances of the local rental market can provide valuable insights into investment opportunities and risks.
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.