Location: Navarro County, TX | Metro: Dallas, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
U.S. Census Bureau data (2024)
The ZIP code 76641, with a population of 2,487, has 14.9% of its residents as renters. This indicates that it is not a heavily rental-dominated area, but rather one where homeownership is more prevalent. The median household income stands at $81,094, which provides a benchmark for assessing the affordability of housing.
In this market, the average rent is $1,108. This amount represents approximately 13.7% of the median household income, calculated as ($1,108 / $81,094) * 100%. This percentage suggests that rent is relatively affordable compared to the income level of the residents, making it less likely that there is a deep voucher demand in this area.
Furthermore, the Fair Market Rent (FMR) for the ZIP code 76641 is set at $1,610 for fiscal year 2024. This figure is significantly higher than the current market rent, indicating that the actual rents are below the threshold where federal assistance would typically be most sought after. Landlords can expect tenants who are capable of paying market rates without relying heavily on voucher support due to the lower percentage of renters and the higher FMR relative to the current market rent.
A landlord in ZIP 76641 should anticipate a tenant pool that consists primarily of individuals and families who can afford market-rate rents. Given the relatively low proportion of renters and the income levels, these tenants are likely to have stable employment and sufficient income to cover their housing expenses without the need for extensive rental subsidies. The environment is conducive to traditional leasing practices, with fewer challenges associated with managing properties under the Section 8 program.
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.