Section 8 Fair Market Rent (FMR) for ZIP 78244 - 2027

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

Investment Score for ZIP 78244

Monthly Rent (2BR)

$1,700

Median Price (2BR)

$132,791

1% Rule

1.28%

Annual Yield

15.36%

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	$1,300
1 Bedroom	$1,410
2 Bedrooms	$1,700
3 Bedrooms	$2,200
4 Bedrooms	$2,550
5 Bedrooms	$2,958
6 Bedrooms	$3,313
7 Bedrooms	$3,578
8 Bedrooms	$3,757

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	$1,700	$132,791	1.28%	A
3BR	$2,200	$204,010	1.08%	B
4BR	$2,550	$239,166	1.07%	B
5BR	$2,958	$281,169	1.05%	B

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

38,092

Median Household Income

$71,128

Housing Units

13,033

Renter Percentage

26.5%

Occupancy Rate

95.0%

Renter Occupied

3,277

The ZIP code 78244 is located in the heart of San Antonio, Texas, offering a vibrant urban setting with easy access to city amenities and attractions. This area is characterized by a mix of residential neighborhoods and commercial developments, making it attractive for both residents and investors.

Fair Market Rent (FMR): The FMR for a two-bedroom apartment in ZIP 78244 is set at $1,760 for fiscal year 2024, indicating a strong rental market.
Market Rent (ZORI): According to Zillow's Rent Index (ZORI), the average market rent for a similar unit is $1,533, suggesting that landlords can potentially charge above the market rate if they offer desirable amenities or maintenance.
Median Home Value: The median home value in this ZIP code stands at $215,764, which is below the national average but still offers good value for property owners.
Renter Share: Approximately 26.5% of households in ZIP 78244 are renters, reflecting a significant demand for rental properties in the area.
Days on Market (DOM): Properties typically remain on the market for about 60 days before being rented, which is relatively quick and suggests a competitive rental environment.
Median Income: The median household income in ZIP 78244 is $71,128, providing tenants with sufficient financial stability to afford higher rents and maintain timely payments.

The data points indicate a robust rental market in ZIP 78244, with the potential for landlords to command rents slightly above the market average due to the high Fair Market Rent. The quick turnover rate and stable median income support the viability of rental investments in this area. However, the lower median home values compared to national standards suggest that the area might be more suited for rental properties rather than owner-occupied homes, given the significant renter share. Overall, ZIP 78244 presents a favorable opportunity for landlords and small-portfolio investors looking to capitalize on San Antonio's growing rental market.

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.