Section 8 Fair Market Rent (FMR) for ZIP 78235 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,230
1 Bedroom	$1,340
2 Bedrooms	$1,610
3 Bedrooms	$2,080
4 Bedrooms	$2,420
5 Bedrooms	$2,807
6 Bedrooms	$3,144
7 Bedrooms	$3,396
8 Bedrooms	$3,566

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,304

Median Household Income

$62,863

Housing Units

1,264

Renter Percentage

97.5%

Occupancy Rate

89.7%

Renter Occupied

1,106

ZIP code 78235, located in Austin, Texas, is a vibrant area known for its diverse population and strong rental market. The neighborhood offers a mix of urban conveniences and suburban tranquility, making it attractive to renters and investors alike.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 78235 for fiscal year 2024 is set at $1,650, reflecting the affordability threshold for low-income families.
The market rent, as measured by the Zillow Observed Rent Index (ZORI), stands at $1,436, indicating that the average rent charged for a typical rental unit is slightly below the FMR.
The median home value is not available, which suggests that the area is predominantly composed of rental properties rather than owner-occupied homes.
Renters make up 97.5% of the housing stock in ZIP 78235, highlighting the dominance of the rental market over homeownership.
The median income for residents in ZIP 78235 is $62,863, providing insight into the financial capabilities of potential tenants.

The high renter share combined with a median income above the national average suggests that there is a robust demand for rental properties in ZIP 78235. While the market rent is currently below the FMR, the strong rental market indicates that there is potential for rental rates to rise. Given the lack of median home values, landlords and small-portfolio investors should focus on the rental sector, where they can leverage the high tenant demand and potentially benefit from rising rents.

Data Sources: FMR data from HUD (2027). 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.