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 | $830 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,090 | $119,491 | 0.91% | C |
| 3BR | $1,410 | $147,884 | 0.95% | C |
| 4BR | $1,640 | $207,309 | 0.79% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 78214, located in San Antonio, Texas, within Bexar County, operate under specific parameters that landlords need to understand to make informed decisions. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $1150 for fiscal year 2024. This SAFMR is the maximum amount that the Housing Choice Voucher program will pay for a unit of this size in ZIP 78214.
Local market rents, as measured by ZORI (Zillow Observed Rent Index), stand at $1,001 for a two-bedroom unit. This figure represents the average rent price for similar units in the same area, based on current market conditions.
A landlord participating in the Section 8 program should know that the total reimbursement includes both the tenant's contribution and the utility allowance. The tenant is typically responsible for paying 30% of their adjusted income towards rent. For example, if a tenant has an adjusted income of $2,000 per month, they would contribute $600 toward the rent. The remaining portion of the rent is covered by the voucher, up to the SAFMR limit.
In addition to the rent subsidy, there is also a utility allowance. This allowance varies but is designed to cover a reasonable estimate of the tenant's utility costs. It is important to note that the utility allowance does not increase the total reimbursement above the SAFMR; it is simply an additional payment made directly to the tenant.
To illustrate, let's assume the SAFMR of $1150 is the full amount paid by the voucher program. If the tenant contributes $600, the voucher program would cover the remaining $550 of the rent. However, since the local market rent is $1,001, landlords may find themselves with a reimbursement gap of $451 ($1,001 - $550).
This reimbursement gap means that landlords will receive less than the local market rent for a two-bedroom unit in ZIP 78214 when using a Section 8 voucher. Therefore, landlords must consider whether the economic benefits of participating in the program, such as guaranteed rental payments and lower vacancy rates, outweigh the financial shortfall compared to market rents.
In summary, the SAFMR for a two-bedroom apartment in ZIP 78214 is $1150, while the local market rent is $1,001. Landlords can expect a reimbursement gap of $451 when accepting a Section 8 voucher for a two-bedroom unit in this area.
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.