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 | $1,120 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,900 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,470 | $271,923 | 0.54% | F |
| 3BR | $1,900 | $397,992 | 0.48% | F |
| 4BR | $2,210 | $488,338 | 0.45% | F |
| 5BR | $2,564 | $1,031,119 | 0.25% | F |
U.S. Census Bureau data (2024)
The ZIP code 78231 in San Antonio, TX, represents a mixed housing market with a notable presence of renters. With a population of 9,744, approximately 33.8% of residents are renters, indicating a significant but not overwhelming demand for rental properties. This percentage suggests that while there is a substantial tenant pool, it is not dominated by renters, leaving room for both rental and homeownership options.
The median household income in this area is $109,183, which places it above the national average. However, the typical market rent of $1,281 per month consumes a considerable portion of the local income. To be precise, the average rent eats up about 15.4% of the median household income when calculated monthly. This figure highlights the affordability of renting relative to income levels in the area.
Comparing the market rent to the Fair Market Rent (FMR), which stands at $1,580 for FY 2024, reveals that the actual rents are below the benchmark set by HUD. This indicates that landlords in ZIP 78231 might have some flexibility in pricing their rentals without exceeding the FMR limit, which is crucial for tenants using Section 8 vouchers. The lower market rent also suggests that there could be a competitive environment for landlords who wish to participate in the Section 8 program, as they must ensure their rents do not exceed the $1,580 threshold.
The kind of tenant profile a landlord in ZIP 78231 should expect includes individuals and families who rely on Section 8 vouchers to afford housing. These tenants will likely have a household income that is significantly below the median, possibly around 30% of the area median income (AMI). Given the high median income and relatively low market rent, landlords can anticipate a tenant base that is price-sensitive and seeks affordable housing solutions. Landlords should prepare to meet the requirements of the Section 8 program, including regular inspections and maintenance, to attract and retain these tenants effectively.
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.