Location: Karnes County, TX | Metro: Atascosa County, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The median income in ZIP code 78118 stands at $60,711. Considering the market rate rental price of $666 (as per Census ACS), it becomes evident that the typical household in this area faces challenges in affording housing without financial assistance. The disparity between income and market rates suggests a significant affordability gap.
Comparatively, the Fair Market Rent (FMR) set at $1140 for zip code 78118 in fiscal year 2024 highlights an even larger discrepancy. This figure represents the standard voucher payment, which is substantially higher than the market rate, indicating that HUD aims to cover a broader range of housing options for those receiving assistance.
With 25.2% of the population renting and a total population of 4,676, landlords in ZIP 78118 must navigate a competitive market. The affordability gap means that many potential tenants may struggle to find suitable housing without relying on government assistance programs such as vouchers. This situation could lead to increased demand for properties that accept vouchers, as they offer a stable source of income with guaranteed payments.
The takeaway for landlords considering their strategy is clear: accepting vouchers can provide a steady stream of income, given the high FMR compared to the market rate and the significant portion of the population seeking affordable housing. However, landlords should also be prepared to manage the administrative aspects of working with voucher programs. For those who prefer cash-paying tenants, the challenge will be to attract households capable of paying the market rate, despite the income constraints.
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.