Location: San Antonio-New Braunfels, 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 | $1,070 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,810 | $302,323 | 0.6% | F |
| 4BR | $2,100 | $357,914 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 78124 stands out within its county due to several key factors. With a population of 6,157 residents, it has a rental rate of 16.5%, which is notably lower than the national average. The median income here is $74,192, positioning it comfortably above the poverty line and indicating a middle-class demographic. Additionally, the median home value in ZIP 78124 is $344,697, suggesting that homeownership is valued and financially feasible for many residents.
For landlords and small-portfolio investors considering Section 8 vouchers, the Financial Market Rent (FMR) for the area is set at $1,370 for the fiscal year 2024. This figure is slightly higher than the market rent of $1,356 reported by the Census Bureau's American Community Survey. This means that landlords accepting Section 8 vouchers can expect to receive rents that are competitive with the local market, providing a stable source of income without the risk of falling below typical market rates.
The data signature for ZIP 78124 reads as "stable." The relatively low rental rate combined with a solid median income and home values suggests a community where homeownership is preferred over renting. This stability is further reinforced by the fact that the FMR is closely aligned with the actual market rent, indicating that the housing market is well-regulated and predictable. For investors, this implies a reliable environment where Section 8 vouchers can serve as a consistent income stream without significant risks associated with rapid changes in the housing market or economic conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.