Section 8 Fair Market Rent (FMR) for ZIP 78218 - 2027

Location: San Antonio-New Braunfels, TX | Metro: San Antonio-New Braunfels, TX HUD Metro FMR Area

Investment Score for ZIP 78218

Monthly Rent (2BR)

$1,330

Median Price (2BR)

$155,277

1% Rule

0.86%

Annual Yield

10.28%

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	$1,010
1 Bedroom	$1,100
2 Bedrooms	$1,330
3 Bedrooms	$1,720
4 Bedrooms	$2,000
5 Bedrooms	$2,320
6 Bedrooms	$2,598
7 Bedrooms	$2,806
8 Bedrooms	$2,946

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,330	$155,277	0.86%	C
3BR	$1,720	$185,476	0.93%	C
4BR	$2,000	$231,845	0.86%	C
5BR	$2,320	$307,920	0.75%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

39,428

Median Household Income

$57,285

Housing Units

16,121

Renter Percentage

51.8%

Occupancy Rate

94.2%

Renter Occupied

7,874

The ZIP code 78218 is located in San Antonio, Texas, a city known for its rich history, diverse culture, and robust economy. This particular area offers a mix of urban conveniences and suburban comfort, making it attractive to both renters and homeowners. However, understanding the nuances of the rental market here can provide valuable insights for landlords and small-portfolio investors.

The Fair Market Rent (FMR) for ZIP 78218 in fiscal year 2024 is set at $1,300, indicating the government's benchmark for affordability in the region.
The actual market rent, as measured by Zillow's ZORI index, stands at $1,402. This suggests that the rental market is slightly above the government's affordability threshold.
The median home value in the area is $197,458, which is relatively low compared to other parts of San Antonio, reflecting a mix of affordable housing options.
Renters make up 51.8% of the population in ZIP 78218, nearly half of all residents, highlighting a strong demand for rental properties.
The days on market (DOM) for rental listings is 74 days, suggesting a moderate speed in finding tenants, neither too quick nor too slow.
The median household income in the area is $57,285, providing a baseline for the financial capacity of potential renters.

Investors considering the ZIP 78218 market should note that while the area has a slight premium over the FMR, the high renter share indicates a steady demand for rental units. The DOM figure suggests that while there is competition for tenants, the market remains balanced. With median incomes aligning closely with the rental prices, landlords can expect a stable tenant base willing to pay the going rate. Overall, the ZIP 78218 presents a viable investment opportunity for those looking to enter or expand their portfolio in a growing San Antonio neighborhood.

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.