FMR is below market; voucher rent may lag private rents.
0.86
1 BR
1 BR
0.83ratio
FMR$960
Market$1,150
vs market-$190
FMR is below market; voucher rent may lag private rents.
0.83
2 BR
2 BR
0.83ratio
FMR$1,260
Market$1,510
vs market-$250
FMR is below market; voucher rent may lag private rents.
0.83
3 BR
3 BR
0.88ratio
FMR$1,740
Market$1,970
vs market-$230
FMR is below market; voucher rent may lag private rents.
0.88
4 BR
4 BR
0.87ratio
FMR$1,930
Market$2,230
vs market-$300
FMR is below market; voucher rent may lag private rents.
0.87
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 76465 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 76465 (Morgan Mill, TX) is $1,260 a month. That is up 6.8% from $1,180 in FY 2026. Morgan Mill is in the Erath County, TX non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,260. Among 17 ZIP codes in Erath County, 76465 is tied for the 4th-highest two-bedroom rent (county range $1,070–$1,510). The median county two-bedroom FMR in Texas is $1,105, so ZIP 76465 is 14% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 76465
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$890
$880
−1.1%
$792–$968
1BR
$900
$960
+6.7%
$864–$1,056
2BR
$1,180
$1,260
+6.8%
$1,134–$1,386
3BR
$1,640
$1,740
+6.1%
$1,566–$1,914
4BR
$1,910
$1,930
+1.0%
$1,737–$2,123
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 76465
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$880
$960
$1,260
$1,740
$1,930
FY 2026
$890
$900
$1,180
$1,640
$1,910
FY 2025
$800
$810
$1,060
$1,490
$1,780
FY 2024area FMR
$851
$857
$1,082
$1,525
$1,836
FY 2023area FMR
$766
$771
$949
$1,349
$1,485
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
How much will Section 8 pay for a two-bedroom in ZIP 76465?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,260, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,134 to $1,386 a month; under the ZIP-level Small Area FMR of $1,260 it would be $1,134 to $1,386. 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 76465 in?
ZIP 76465 is in the Erath County, TX non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,260.
How much did fair market rent change in ZIP 76465 for FY 2027?
The two-bedroom FMR rose 6.8%, from $1,180 in FY 2026 to $1,260 in FY 2027. Since FY 2025 it has risen 18.9%.
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