Location: Real County, TX | Metro: Gillespie County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
U.S. Census Bureau data (2024)
The analysis for Section 8 real estate in ZIP 78058 reveals a significant gap between the Fair Market Rent (FMR) set by HUD and the actual market rent. For fiscal year 2026, the FMR for a metro area including ZIP 78058 is $1,150. In contrast, the current market rent stands at $1,400, according to recent data from Zillow.
This gap means that landlords accepting Section 8 vouchers will be renting their properties below the open-market rate. The difference is $250 per month, which translates to a 21.9% discount off the market rent. This discrepancy can affect profitability and must be factored into investment decisions.
In ZIP 78058, only 2.7% of residents are renters, indicating a predominantly owner-occupied market. The median home value in the area is $467,441, and the median household income is $93,581. Given these economic indicators, landlords should consider the financial implications of accepting Section 8 tenants who may rent at lower rates.
Accepting voucher tenants can still be a yield play if landlords focus on long-term stability and government-backed payments. However, it's crucial to weigh this against the potential for higher yields from market-rate rentals, considering the current market conditions.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.