Location: Live Oak County, TX | Metro: Victoria, TX MSA
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 | $1,040 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,560 | $201,178 | 0.78% | D |
U.S. Census Bureau data (2024)
The market in ZIP code 78119 presents a dynamic environment where the balance between supply and demand is tilting towards a scenario where demand may slightly outpace supply. This inference is drawn from the snapshot data indicating a Fair Market Rent (FMR) of $1280 for the fiscal year 2024, which is higher than the market rent of $1,177 as reported by the Census ACS. The slight disparity between these two figures suggests that there is a positive pressure on rental prices, indicating a robust demand for rental properties.
A key indicator supporting this view is the low price-cut share of 0.2%. In real estate markets, a lower percentage typically points to a stronger demand, as fewer landlords need to reduce their asking prices to attract tenants. While the days on market (DOM) data is not available, the combination of a higher FMR and low price-cut share implies that properties are likely moving relatively quickly once listed, further suggesting a market where demand is driving activity.
The median home value of $186,060 also plays a role in understanding the market dynamics. This figure provides context to the overall affordability and desirability of the area, potentially influencing both rental and purchase decisions. A lower median home value can indicate an attractive entry point for first-time buyers or investors looking to capitalize on potential growth areas.
With a 49.0% renter share, it's clear that nearly half of the households in 78119 are renters. This high proportion of renters signifies ongoing long-term housing pressure. High renter shares often correlate with a persistent demand for rental properties, which can be beneficial for landlords and small-portfolio investors. It indicates a steady flow of potential tenants, reducing the risk of vacancies and providing a stable income stream.
In summary, the current snapshot of ZIP 78119 suggests a market where demand is robust, particularly for rental properties. The interplay between the FMR and market rent, along with the low price-cut share, points to a scenario where demand may be outpacing supply. The high renter share reinforces the long-term pressure on housing, making it a favorable market for those invested in rentals.
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.