FMR is below market; voucher rent may lag private rents.
0.87
1 BR
1 BR
0.87ratio
FMR$1,590
Market$1,820
vs market-$230
FMR is below market; voucher rent may lag private rents.
0.87
2 BR
2 BR
1.03ratio
FMR$1,870
Market$1,810
vs market+$60
FMR is near market; voucher and private rents are aligned.
1.03
3 BR
3 BR
1.25ratio
FMR$2,350
Market$1,880
vs market+$470
FMR is above market; underwrite to market rent.
1.25
4 BR
4 BR
1.42ratio
FMR$2,990
Market$2,100
vs market+$890
FMR is above market; underwrite to market rent.
1.42
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 75164 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 75164 (Josephine, TX) is $1,870 a month. That is down 6.5% from $2,000 in FY 2026. Josephine 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 47 ZIP codes in Collin County, 75164 has the 38th-highest two-bedroom rent (county range $1,100–$2,710). The median county two-bedroom FMR in Texas is $1,105, so ZIP 75164 is 69% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 75164
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,630
$1,540
−5.5%
$1,386–$1,694
1BR
$1,700
$1,590
−6.5%
$1,431–$1,749
2BR
$2,000
$1,870
−6.5%
$1,683–$2,057
3BR
$2,510
$2,350
−6.4%
$2,115–$2,585
4BR
$3,190
$2,990
−6.3%
$2,691–$3,289
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 75164
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,540
$1,590
$1,870
$2,350
$2,990
FY 2026
$1,630
$1,700
$2,000
$2,510
$3,190
FY 2025
$1,580
$1,660
$1,950
$2,440
$3,130
FY 2024
$1,300
$1,360
$1,600
$2,010
$2,590
FY 2023
$1,170
$1,240
$1,460
$1,840
$2,400
Two-bedroom rent in nearby Collin County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 75164?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,870, that basic range is $1,683 to $2,057 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 75164 in?
ZIP 75164 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 75164 for FY 2027?
The two-bedroom FMR fell 6.5%, from $2,000 in FY 2026 to $1,870 in FY 2027. Since FY 2023 it has risen 28.1%.
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