FMR is near market; voucher and private rents are aligned.
0.99
1 BR
1 BR
0.98ratio
FMR$1,400
Market$1,430
vs market-$30
FMR is near market; voucher and private rents are aligned.
0.98
2 BR
2 BR
1.01ratio
FMR$1,650
Market$1,630
vs market+$20
FMR is near market; voucher and private rents are aligned.
1.01
3 BR
3 BR
1.11ratio
FMR$2,080
Market$1,880
vs market+$200
FMR is above market; underwrite to market rent.
1.11
4 BR
4 BR
1.13ratio
FMR$2,640
Market$2,340
vs market+$300
FMR is above market; underwrite to market rent.
1.13
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 75118 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 75118 (Elmo, TX) is $1,650 a month. That is down 4.6% from $1,730 in FY 2026. Elmo 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 18 ZIP codes in Kaufman County, 75118 has the 7th-highest two-bedroom rent (county range $1,020–$2,460). The median county two-bedroom FMR in Texas is $1,105, so ZIP 75118 is 49% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 75118
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,420
$1,360
−4.2%
$1,224–$1,496
1BR
$1,480
$1,400
−5.4%
$1,260–$1,540
2BR
$1,730
$1,650
−4.6%
$1,485–$1,815
3BR
$2,180
$2,080
−4.6%
$1,872–$2,288
4BR
$2,770
$2,640
−4.7%
$2,376–$2,904
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 75118
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,360
$1,400
$1,650
$2,080
$2,640
FY 2026
$1,420
$1,480
$1,730
$2,180
$2,770
FY 2025
$1,360
$1,430
$1,680
$2,110
$2,700
FY 2024
$1,280
$1,350
$1,580
$1,990
$2,560
FY 2023
$1,130
$1,190
$1,400
$1,760
$2,300
Two-bedroom rent in nearby Kaufman County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 75118?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,650, that basic range is $1,485 to $1,815 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 75118 in?
ZIP 75118 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 75118 for FY 2027?
The two-bedroom FMR fell 4.6%, from $1,730 in FY 2026 to $1,650 in FY 2027. Since FY 2023 it has risen 17.9%.
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