Section 8 Fair Market Rent (FMR) for ZIP 76654 - 2027

Location: Waco, TX | Metro: Waco, TX HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$900
2 Bedrooms	$1,120
3 Bedrooms	$1,450
4 Bedrooms	$1,490
5 Bedrooms	$1,728
6 Bedrooms	$1,935
7 Bedrooms	$2,090
8 Bedrooms	$2,195

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

175

Median Household Income

$69,583

Housing Units

Renter Percentage

15.9%

Occupancy Rate

90.7%

Renter Occupied

The ZIP code 76654 is located in the heart of Texas, offering a blend of suburban charm and urban convenience. This area is particularly interesting for real estate investors due to its strategic location and growing population. Here's a detailed look at the key metrics that define the rental market in this region:

The Fair Market Rent (FMR) for a one-bedroom apartment in ZIP 76654 for fiscal year 2024 is set at $1180. This figure is crucial for understanding the minimum rental price guideline for landlords participating in the Section 8 program.
The market rent for ZIP 76654 is currently not available. This lack of data can make it challenging to gauge the exact premium over the FMR that landlords might be able to charge.
The median home value in ZIP 76654 is not available. However, the absence of this data does not necessarily indicate a weak housing market, but rather a need for further research to understand property values.
Renters make up 15.9% of the total population in this ZIP code. This relatively low percentage suggests that the area is primarily composed of homeowners, which could impact the demand for rental properties.
The days on market (DOM) data for ZIP 76654 is also not available. This metric would typically help investors understand how quickly properties are being rented out, indicating market activity and tenant interest.
The median household income in ZIP 76654 is $69,583. This figure is important for assessing the financial capacity of potential tenants and their ability to afford higher rents.

In summary, while the rental market in ZIP 76654 offers a clear guideline through the FMR at $1180 for a one-bedroom unit, the lack of specific market rent and DOM data leaves some uncertainty. The median income of $69,583 indicates a stable economic base, capable of supporting a range of rental prices. However, with only 15.9% of the population renting, the demand for rental properties may be lower compared to other areas. Investors should focus on properties that cater to the needs of this demographic and consider conducting additional research to fill in the gaps left by unavailable data points.

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.