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Dallas County/Garland/75040

75040

ZIPSAFMR
Dallas County, TX
Zillow

ZIP Investment Score

86Below average

095130300
BRFMR
Eff. Rent
0 BR$1,570$1,340
1 BR$1,610$1,370
2 BR$1,900$1,800
3 BR$2,390$2,050
4 BR$3,040$2,420
5 BR$3,496Not available
6 BR$4,020Not available
7 BR$4,623Not available
8 BR$5,317Not available

Purchase Price Calculator

Maximum purchase price
$205,563

Cost breakdown

+Likely effective rent$1,800
HUD FMR$1,900
Market rentUsed$1,800
Est. payment standard (97%)$1,840
-Principal and interest-$1,039
Loan amount$164,450
Down payment$41,113
Rate6.50%
Term30 years
-Operating costs-$561
Property taxes-$206
Insurance-$175
Utilities$0
HOA$0
Management-$180
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,898(70.3% ROI)
Projected value
$221,369
Return breakdown
Property appreciation+$15,806
Loan principal paid down+$5,892
Rental cash flow+$7,200
5-year hold
+$49,519(120.4% ROI)
Projected value
$232,575
Return breakdown
Property appreciation+$27,013
Loan principal paid down+$10,507
Rental cash flow+$12,000
10-year hold
+$106,611(259.3% ROI)
Projected value
$263,138
Return breakdown
Property appreciation+$57,575
Loan principal paid down+$25,036
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.17
1 BR
1.18
2 BR
1.06
3 BR
1.17
4 BR
1.26
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 75040 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 75040 (Garland, TX) is $1,900 a month. That is down 1.6% from $1,930 in FY 2026. Garland is in the Dallas, TX HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 139 ZIP codes in Dallas County, 75040 is tied for the 43rd-highest two-bedroom rent (county range $1,130–$2,710). The median county two-bedroom FMR in Texas is $1,105, so ZIP 75040 is 72% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 75040
BedroomsFY 2027Change90–110% range
Studio$1,570−0.6%$1,413–$1,727
1BR$1,610−2.4%$1,449–$1,771
2BR$1,900−1.6%$1,710–$2,090
3BR$2,390−1.6%$2,151–$2,629
4BR$3,040−1.6%$2,736–$3,344

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 75040
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,570$1,610$1,900$2,390$3,040
FY 2026$1,580$1,650$1,930$2,430$3,090
FY 2025$1,510$1,590$1,860$2,330$2,990
FY 2024$1,380$1,450$1,700$2,140$2,750
FY 2023$1,180$1,250$1,470$1,850$2,420

Two-bedroom rent in nearby Dallas County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 75040
75038$1,940+2.1%
75039$2,510+32.1%
75040Current$1,900—
75041$1,580−16.8%
75042$1,550−18.4%
75043$1,740−8.4%
75044$1,990+4.7%
75045$1,720−9.5%
75046$1,720−9.5%
75047$1,720−9.5%
75048$2,100+10.5%
75049$1,720−9.5%

Questions about ZIP 75040 rents

How much will Section 8 pay for a two-bedroom in ZIP 75040?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,900, that basic range is $1,710 to $2,090 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 75040 in?

ZIP 75040 is in the Dallas, TX HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 75040 for FY 2027?

The two-bedroom FMR fell 1.6%, from $1,930 in FY 2026 to $1,900 in FY 2027. Since FY 2023 it has risen 29.3%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentGarland, TX fair market rentTX statewide rentsWhat is SAFMR?Data sources