Location: Blanco County, TX | Metro: San Antonio-New Braunfels, TX HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,120 |
| 5 Bedrooms | $2,459 |
| 6 Bedrooms | $2,754 |
| 7 Bedrooms | $2,974 |
| 8 Bedrooms | $3,123 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,410 | $261,624 | 0.54% | F |
| 3BR | $1,830 | $463,161 | 0.4% | F |
| 4BR | $2,120 | $709,741 | 0.3% | F |
| 5BR | $2,459 | $895,333 | 0.27% | F |
U.S. Census Bureau data (2024)
The ZIP code 78070, located in Canyon Lake, TX, within the Blanco County, TX metro area, presents a unique real estate scenario when compared to typical ZIP codes in the same county. The Fair Market Rent (FMR) for 78070 is set at $1610 for fiscal year 2024, while the market rent stands at $1,898. This indicates that the actual rental prices in 78070 are slightly above what the government deems fair for the area, suggesting a market where rents are competitive but not excessively high.
The median home value in 78070 is $572,319, which is notably higher than the average home value in many other ZIP codes within Blanco County. This points towards 78070 being a premium sub-market within its larger metro area, as it offers more expensive housing options compared to the surrounding areas. However, the renter share of 10.8% is relatively low, indicating that most residents own their homes rather than renting them, which is consistent with the higher home values.
To determine if 78070 is a value pocket or a mid-tier neighborhood, we must consider the relationship between its FMR, market rent, and home values. A value pocket typically has lower-than-average home values and a higher-than-average renter share, often due to an influx of subsidized housing. In contrast, a mid-tier neighborhood would have average home values and renter shares, fitting neatly into the broader market trends.
In 78070, the combination of higher home values and a relatively low renter share suggests it is not a value pocket but rather a premium sub-market. The divergence between FMR and market rent, where market rent is higher, also supports this conclusion. Landlords and small-portfolio investors should be aware that while the rental market in 78070 is slightly above the FMR, the overall cost of housing is significantly higher, positioning it as a desirable but pricier option within the Blanco County metro area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.