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McLennan County/Waco/76707

76707

ZIPSAFMR
McLennan County, TX
Zillow

ZIP Investment Score

134High yield potential

095130300
BRFMR
Eff. Rent
0 BR$880$860
1 BR$1,010$930
2 BR$1,270$1,280
3 BR$1,660$1,600
4 BR$1,670$1,750
5 BR$1,920Not available
6 BR$2,209Not available
7 BR$2,540Not available
8 BR$2,921Not available

Purchase Price Calculator

Maximum purchase price
$128,291

Cost breakdown

+Likely effective rent$1,280
HUD FMR$1,270
Market rent$1,290
Est. payment standard (101%)Used$1,280
-Principal and interest-$649
Loan amount$102,633
Down payment$25,658
Rate6.50%
Term30 years
-Operating costs-$431
Property taxes-$128
Insurance-$175
Utilities$0
HOA$0
Management-$128
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,741(80.8% ROI)
Projected value
$138,155
Return breakdown
Property appreciation+$9,864
Loan principal paid down+$3,677
Rental cash flow+$7,200
5-year hold
+$35,416(138.0% ROI)
Projected value
$145,149
Return breakdown
Property appreciation+$16,858
Loan principal paid down+$6,557
Rental cash flow+$12,000
10-year hold
+$75,557(294.5% ROI)
Projected value
$164,223
Return breakdown
Property appreciation+$35,932
Loan principal paid down+$15,625
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.02
1 BR
1.09
2 BR
0.98
3 BR
1.04
4 BR
0.93
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 76707 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 76707 (Waco, TX) is $1,270 a month. That is up 2.4% from $1,240 in FY 2026. Waco is in the Waco, TX HUD Metro 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 metro-wide two-bedroom FMR of $1,297. Among 33 ZIP codes in McLennan County, 76707 has the 18th-highest two-bedroom rent (county range $1,120–$1,910). The median county two-bedroom FMR in Texas is $1,105, so ZIP 76707 is 15% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 76707
BedroomsFY 2027Change90–110% range
Studio$880+3.5%$792–$968
1BR$1,010+1.0%$909–$1,111
2BR$1,270+2.4%$1,143–$1,397
3BR$1,660+3.8%$1,494–$1,826
4BR$1,670+1.2%$1,503–$1,837

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 76707
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$880$1,010$1,270$1,660$1,670
FY 2026$850$1,000$1,240$1,600$1,650
FY 2025$920$1,080$1,340$1,730$1,780
FY 2024$850$980$1,230$1,590$1,640
FY 2023$690$770$970$1,270$1,320

Two-bedroom rent in nearby McLennan County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 76707
76701$1,300+2.4%
76702$1,300+2.4%
76703$1,300+2.4%
76704$1,120−11.8%
76705$1,120−11.8%
76706$1,280+0.8%
76707Current$1,270—
76708$1,300+2.4%
76710$1,250−1.6%
76711$1,530+20.5%
76712$1,520+19.7%
76714$1,300+2.4%

Questions about ZIP 76707 rents

How much will Section 8 pay for a two-bedroom in ZIP 76707?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,297, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,167 to $1,427 a month; under the ZIP-level Small Area FMR of $1,270 it would be $1,143 to $1,397. 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 76707 in?

ZIP 76707 is in the Waco, TX HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,297.

How much did fair market rent change in ZIP 76707 for FY 2027?

The two-bedroom FMR rose 2.4%, from $1,240 in FY 2026 to $1,270 in FY 2027. Since FY 2023 it has risen 30.9%.

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

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