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McLennan County/Waco/76711

76711

ZIPSAFMR
McLennan County, TX
Zillow

ZIP Investment Score

146High yield potential

095130300
BRFMR
Eff. Rent
0 BR$1,070$1,120
1 BR$1,210$1,190
2 BR$1,530$1,230
3 BR$2,000$1,650
4 BR$2,010$1,910
5 BR$2,312Not available
6 BR$2,658Not available
7 BR$3,057Not available
8 BR$3,516Not available

Purchase Price Calculator

Maximum purchase price
$120,861

Cost breakdown

+Likely effective rent$1,230
HUD FMR$1,530
Market rentUsed$1,230
Est. payment standard (90%)$1,380
-Principal and interest-$611
Loan amount$96,689
Down payment$24,172
Rate6.50%
Term30 years
-Operating costs-$419
Property taxes-$121
Insurance-$175
Utilities$0
HOA$0
Management-$123
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,957(82.6% ROI)
Projected value
$130,154
Return breakdown
Property appreciation+$9,293
Loan principal paid down+$3,464
Rental cash flow+$7,200
5-year hold
+$34,060(140.9% ROI)
Projected value
$136,743
Return breakdown
Property appreciation+$15,882
Loan principal paid down+$6,177
Rental cash flow+$12,000
10-year hold
+$72,571(300.2% ROI)
Projected value
$154,712
Return breakdown
Property appreciation+$33,851
Loan principal paid down+$14,720
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.93
1 BR
1.02
2 BR
1.24
3 BR
1.21
4 BR
1.05
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 76711 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 76711 (Waco, TX) is $1,530 a month. That is unchanged from 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, 76711 has the 4th-highest two-bedroom rent (county range $1,120–$1,910). The median county two-bedroom FMR in Texas is $1,105, so ZIP 76711 is 39% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 76711
BedroomsFY 2027Change90–110% range
Studio$1,070+0.9%$963–$1,177
1BR$1,210−2.4%$1,089–$1,331
2BR$1,5300.0%$1,377–$1,683
3BR$2,000+1.0%$1,800–$2,200
4BR$2,010−1.0%$1,809–$2,211

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 76711
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,070$1,210$1,530$2,000$2,010
FY 2026$1,060$1,240$1,530$1,980$2,030
FY 2025$1,170$1,370$1,700$2,190$2,250
FY 2024$1,070$1,240$1,550$2,000$2,060
FY 2023$850$940$1,190$1,560$1,620

Two-bedroom rent in nearby McLennan County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 76711
76702$1,300−15.0%
76703$1,300−15.0%
76704$1,120−26.8%
76705$1,120−26.8%
76706$1,280−16.3%
76707$1,270−17.0%
76708$1,300−15.0%
76710$1,250−18.3%
76711Current$1,530—
76712$1,520−0.7%
76714$1,300−15.0%
76716$1,300−15.0%

Questions about ZIP 76711 rents

How much will Section 8 pay for a two-bedroom in ZIP 76711?

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 $1,530 it would be $1,377 to $1,683. 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 76711 in?

ZIP 76711 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 76711 for FY 2027?

The two-bedroom FMR was unchanged at $1,530 in FY 2027. Since FY 2023 it has risen 28.6%.

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