Section 8 Fair Market Rent (FMR) for ZIP 76716 - 2027
Location: Waco, TX | Metro: Waco, TX HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $910 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
A skeptical investor considering ZIP 76716 in Unknown, TX might have several concerns regarding the feasibility of investing in the area through the Section 8 program. Here are some key objections and the data to address them:
- Will FMR $1270 (zip FY 2024) cover the mortgage on a N/A home? The Fair Market Rent (FMR) for ZIP 76716 is set at $1270 for FY 2024. However, without specific data on average home values or mortgage costs in the area, it's impossible to definitively state whether this amount will cover a mortgage. It's crucial to know the typical mortgage payments for properties in this ZIP code.
- Is there enough renter demand at N/A%? The occupancy rate for Section 8 properties in ZIP 76716 is not provided, making it difficult to assess the level of demand accurately. Typically, an occupancy rate above 90% indicates strong demand. Landlords should investigate local housing authorities or real estate agencies for more precise figures.
- Will vouchers keep pace with N/A market rents? While the FMR provides a benchmark, it does not guarantee that voucher amounts will always match the rising market rents. The U.S. Department of Housing and Urban Development (HUD) periodically adjusts FMRs based on changes in housing costs. Investors must monitor these adjustments and consider the potential for discrepancies between voucher amounts and actual market rents.
The data available for ZIP 76716 does not fully address all the questions raised by a cautious investor. To make informed decisions, further research into local property values, mortgage rates, and occupancy statistics is necessary. Additionally, keeping abreast of HUD policy changes and local economic conditions can help predict future trends and risks associated with Section 8 investments.
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.