Section 8 Fair Market Rent (FMR) for ZIP 78212 - 2027

Investment Score for ZIP 78212

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,090
1 Bedroom	$1,190
2 Bedrooms	$1,430
3 Bedrooms	$1,850
4 Bedrooms	$2,150
5 Bedrooms	$2,494
6 Bedrooms	$2,793
7 Bedrooms	$3,016
8 Bedrooms	$3,167

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,190	$178,935	0.67%	D
2BR	$1,430	$213,124	0.67%	D
3BR	$1,850	$293,773	0.63%	D
4BR	$2,150	$702,336	0.31%	F
5BR	$2,494	$1,180,944	0.21%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the provided data, ZIP 78212 in San Antonio, TX, can be best described as a cash-flow anchor within a Section 8 portfolio strategy. The Family Monthly Rent (FMR) for ZIP 78212 in fiscal year 2024 is set at $1340, which is notably lower than the market rent of $1465. This creates a spread of $125 per month, allowing landlords to maintain positive cash flow while still adhering to the affordable housing guidelines of the Section 8 program.

The median home value in ZIP 78212 is $284,260, indicating that the area is relatively stable and does not experience significant fluctuations in property values. This stability makes it an ideal location for long-term investments focused on consistent cash flow rather than rapid appreciation.

Additionally, the low price-cut share of 0.2% and a Days on Market (DOM) of 48 days suggest that the real estate market in this ZIP code is competitive but not overly saturated. Landlords can expect their rental properties to be occupied quickly, reducing the risk of vacancy and ensuring steady income.

While the renter share of 53.4% and median income of $62,801 might indicate some diversity in the tenant population, these factors do not outweigh the significance of the cash-flow anchor role played by ZIP 78212. The slightly below-market FMR coupled with quick occupancy rates ensures that landlords can rely on this area to provide reliable and predictable income streams.

In conclusion, ZIP 78212 serves as a solid foundation for a Section 8 portfolio strategy due to its ability to generate consistent cash flow. Landlords should focus on the $125 monthly spread and the efficient rental market to maximize their investment returns.

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.