FY2027 Small Area FMR · Elm Mott, TX

ZIP 76640 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 76640 (Elm Mott, TX) is $1,120 a month, down 9.7% from FY2026. That is 14% below the Waco, TX area-wide FMR of $1,297.

2-bedroom SAFMR$1,120per month ▼ 9.7%

Area-wide 2 BR FMR$1,297Waco, TX

Rank in the area26thof 33 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,008

2 BR Small Area FMR$1,120

110% of SAFMR$1,232

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$770▼ 9.4%

1 BR$900▼ 10.0%

2 BR$1,120▼ 9.7%

3 BR$1,440▼ 10.0%

4 BR$1,490▼ 9.7%

FY2027 FY2026

Where 76640 sits in the Waco, TX area

Of the 33 ZIP codes HUD lists for the area, 76640 has the 26th highest two-bedroom Small Area FMR. Waco, 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 $1,297 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,120 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$770	$693 – $847	$903	$850
1 bedroom	$900	$810 – $990	$1,029	$1,000
2 bedrooms	$1,120	$1,008 – $1,232	$1,297	$1,240
3 bedrooms	$1,440	$1,296 – $1,584	$1,693	$1,600
4 bedrooms	$1,490	$1,341 – $1,639	$1,705	$1,650

A household renting a two-bedroom home at the Small Area FMR of $1,120 needs about $44,800 a year to keep housing costs at 30% of income. The area median family income is $90,300 and the 80% low-income limit for four people is $72,250. ZIP code 76640 lies mainly in McLennan County. See the Waco, TX county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
76654	Leroy	4.6 mi	$1,120
76691	West	5.3 mi	$1,150
76705	Waco	5.4 mi	$1,120
76624	Axtell	7.4 mi	$1,120
76704	Waco	9.0 mi	$1,120
76708	Waco	9.6 mi	$1,300

Questions

What is the Fair Market Rent for ZIP code 76640?

HUD's FY2027 Small Area Fair Market Rents for 76640 are $770 (studio), $900 (1 BR), $1,120 (2 BR), $1,440 (3 BR) and $1,490 (4 BR) a month.

What is the Section 8 payment standard in 76640?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 76640 that range is $1,008 to $1,232 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 76640?

The FY2026 income limits of the Waco, TX area apply: median family income $90,300, low-income (80%) limit $72,250 for a family of four.