FY2027 Small Area FMR · Gainesville, TX
ZIP 76240 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 76240 (Gainesville, TX) is $1,340 a month, up 4.7% from FY2026. That is 4% below the Sherman-Denison, TX area-wide FMR of $1,395.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 76240 sits in the Sherman-Denison, TX area
Of the 23 ZIP codes HUD lists for the area, 76240 has the 14th highest two-bedroom Small Area FMR. Sherman-Denison, TX is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,395 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,340 for this ZIP code instead.
ZIP code 76240 crosses more than one HUD area. HUD also lists it under Cooke County, TX (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $1,020 | $918 – $1,122 | $1,102 | $970 |
| 1 bedroom | $1,020 | $918 – $1,122 | $1,126 | $1,010 |
| 2 bedrooms | $1,340 | $1,206 – $1,474 | $1,395 | $1,280 |
| 3 bedrooms | $1,700 | $1,530 – $1,870 | $1,932 | $1,690 |
| 4 bedrooms | $1,950 | $1,755 – $2,145 | $2,148 | $2,030 |
A household renting a two-bedroom home at the Small Area FMR of $1,340 needs about $53,600 a year to keep housing costs at 30% of income. The area median family income is $95,300 and the 80% low-income limit for four people is $76,250. ZIP code 76240 lies mainly in Cooke County and Grayson County. See the Sherman-Denison, TX county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 76240?
HUD's FY2027 Small Area Fair Market Rents for 76240 are $1,020 (studio), $1,020 (1 BR), $1,340 (2 BR), $1,700 (3 BR) and $1,950 (4 BR) a month.
What is the Section 8 payment standard in 76240?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 76240 that range is $1,206 to $1,474 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 76240?
The FY2026 income limits of the Sherman-Denison, TX area apply: median family income $95,300, low-income (80%) limit $76,250 for a family of four.