Location: Limestone County, TX | Metro: Falls County, 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 | $770 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,390 | $218,912 | 0.63% | D |
U.S. Census Bureau data (2024)
The ZIP code 76642 stands out within its county due to several distinct characteristics. With a population of 6,363 residents, it has a rental rate of 29.4%, indicating a significant portion of the community lives in rented properties. The median income here is $62,243, which is relatively modest compared to the median home value of $193,077. This suggests that homeownership is more expensive relative to income, potentially making rental housing a more attractive option for many.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 76642 for fiscal year 2024 is set at $910. This figure is notably higher than the market rent average of $866, based on Census ACS data. The higher FMR can be beneficial for landlords who participate in the Section 8 program, as it provides a slightly better rental income compared to the local market rates. However, the disparity between FMR and actual market rates could indicate challenges in attracting tenants who do not qualify for vouchers.
Overall, the data signature for ZIP 76642 reads as stable. The population size and rental rates suggest a steady demand for rental housing, while the income levels and home values indicate a balanced but not highly affluent community. Landlords and small-portfolio investors should consider these factors when evaluating the potential returns and risks associated with managing properties in this area. The slight premium offered by the Section 8 program can serve as a stabilizing factor in a market where rents are generally lower.
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.