Section 8 Fair Market Rent (FMR) for ZIP 78062 - 2027

FY 2027 Fair Market Rent Rates

To understand the economics of Section 8 in ZIP code 78062, it's crucial to know the Subsidized Average Fair Market Rent (SAFMR) for a two-bedroom apartment is set at $1,190 for fiscal year 2026. This figure represents the maximum amount the government will pay towards a tenant's rent under the Section 8 program. However, due to the lack of specific local market rent data for ZIP 78062, we must rely on the SAFMR as our benchmark.

The SAFMR for ZIP 78062 is determined specifically for this area, reflecting the local rental market conditions. For landlords, it's important to note that the actual payment received from the Section 8 voucher program is not solely the SAFMR. Instead, it is a combination of the tenant's contribution and the government subsidy. The tenant is typically required to pay 30% of their adjusted income towards rent. If the tenant's share plus the government subsidy does not meet the full rent, the landlord must accept the difference as part of participating in the program.

Let's break down the payment structure. Suppose a tenant's monthly adjusted income is $1,000; they would contribute $300 (30%) towards the rent. With the SAFMR set at $1,190, the government would cover the remaining $890. Therefore, the total reimbursement for a two-bedroom unit would be $1,190 ($300 from the tenant + $890 from the government).

In ZIP 78062, the SAFMR for a two-bedroom unit is lower than the average market rent. Without precise local market rent data, we can infer that landlords might face a reimbursement gap if their rent exceeds $1,190. For instance, if a landlord charges $1,300 for a two-bedroom unit, the government would only subsidize up to $1,190, leaving a $110 shortfall per month.

To summarize, landlords in ZIP 78062 should expect the Section 8 voucher program to reimburse up to $1,190 for a two-bedroom unit, with the tenant contributing 30% of their adjusted income. Given the lack of specific local market rent data, it's likely that landlords will experience a reimbursement gap if their rents exceed the SAFMR. This gap would represent the surplus the landlord needs to cover to remain compliant with the program's requirements.

Data Sources: FMR data from HUD (2027).

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.