Section 8 Fair Market Rent (FMR) for ZIP 76702 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 76702 in Waco County, TX, stands out due to limited available data, which includes the number of residents, the percentage of renters, median income, and median home value. This scarcity of information can make it challenging to paint a comprehensive picture of the area's economic landscape.

However, when it comes to Section 8 housing economics, the data provides a clearer insight. The Fair Market Rent (FMR) for ZIP 76702 is set at $1270 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors as it dictates the maximum rental amount that can be subsidized under the program. Despite the lack of market rent data, the FMR serves as a benchmark for rental pricing in the area.

The voucher economics in ZIP 76702 present an opportunity for landlords to ensure a steady stream of income through government-subsidized tenants. Given the FMR, landlords should aim to keep their rental rates close to this figure to maximize participation in the Section 8 program. It's important to note that the actual market conditions could vary, but without specific market rent data, the FMR is the best indicator available.

Considering the data signature of ZIP 76702, it reads as transitional. The absence of key economic indicators suggests that the area might be undergoing changes that have yet to be fully captured by official statistics. Landlords and investors should stay vigilant about local trends and updates to make informed decisions.

Data Sources: FMR data from HUD (2027).

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.