FMR is below market; voucher rent may lag private rents.
0.78
1 BR
1 BR
0.97ratio
FMR$1,020
Market$1,050
vs market-$30
FMR is near market; voucher and private rents are aligned.
0.97
2 BR
2 BR
1.05ratio
FMR$1,280
Market$1,220
vs market+$60
FMR is near market; voucher and private rents are aligned.
1.05
3 BR
3 BR
0.97ratio
FMR$1,670
Market$1,730
vs market-$60
FMR is near market; voucher and private rents are aligned.
0.97
4 BR
4 BR
0.54ratio
FMR$1,680
Market$3,110
vs market-$1,430
FMR is below market; voucher rent may lag private rents.
0.54
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 76798 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 76798 (Waco, TX) is $1,280 a month. That is up 3.2% 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, 76798 is tied for the 16th-highest two-bedroom rent (county range $1,120–$1,910). The median county two-bedroom FMR in Texas is $1,105, so ZIP 76798 is 16% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 76798
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$850
$890
+4.7%
$801–$979
1BR
$1,000
$1,020
+2.0%
$918–$1,122
2BR
$1,240
$1,280
+3.2%
$1,152–$1,408
3BR
$1,600
$1,670
+4.4%
$1,503–$1,837
4BR
$1,650
$1,680
+1.8%
$1,512–$1,848
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 76798
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$890
$1,020
$1,280
$1,670
$1,680
FY 2026
$850
$1,000
$1,240
$1,600
$1,650
FY 2025
$910
$1,060
$1,320
$1,700
$1,750
FY 2024
$840
$970
$1,210
$1,560
$1,610
FY 2023
$710
$790
$1,000
$1,310
$1,360
Two-bedroom rent in nearby McLennan County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 76798?
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 $1,280 it would be $1,152 to $1,408. 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 76798 in?
ZIP 76798 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 76798 for FY 2027?
The two-bedroom FMR rose 3.2%, from $1,240 in FY 2026 to $1,280 in FY 2027. Since FY 2023 it has risen 28.0%.
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