FY2027 Small Area FMR · Waco, TX
ZIP 76706 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 76706 (Waco, TX) is $1,280 a month, up 3.2% from FY2026. That is 1% below the Waco, TX area-wide FMR of $1,297.
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 76706 sits in the Waco, TX area
Of the 33 ZIP codes HUD lists for the area, 76706 has the 16th 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 $1,280 for this ZIP code instead.
ZIP code 76706 crosses more than one HUD area. HUD also lists it under Falls 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 | $890 | $801 – $979 | $903 | $850 |
| 1 bedroom | $1,020 | $918 – $1,122 | $1,029 | $1,000 |
| 2 bedrooms | $1,280 | $1,152 – $1,408 | $1,297 | $1,240 |
| 3 bedrooms | $1,670 | $1,503 – $1,837 | $1,693 | $1,600 |
| 4 bedrooms | $1,680 | $1,512 – $1,848 | $1,705 | $1,650 |
A household renting a two-bedroom home at the Small Area FMR of $1,280 needs about $51,200 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 76706 lies mainly in McLennan County and Falls County. See the Waco, 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 76706?
HUD's FY2027 Small Area Fair Market Rents for 76706 are $890 (studio), $1,020 (1 BR), $1,280 (2 BR), $1,670 (3 BR) and $1,680 (4 BR) a month.
What is the Section 8 payment standard in 76706?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 76706 that range is $1,152 to $1,408 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 76706?
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.