Section 8 Fair Market Rent (FMR) for ZIP 78256 - 2027

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

Investment Score for ZIP 78256

N/A

Monthly Rent (2BR)

$1,690

Median Price (2BR)

$N/A

1% Rule

Annual Yield

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	$1,290
1 Bedroom	$1,400
2 Bedrooms	$1,690
3 Bedrooms	$2,190
4 Bedrooms	$2,540
5 Bedrooms	$2,946
6 Bedrooms	$3,300
7 Bedrooms	$3,564
8 Bedrooms	$3,742

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$2,190	$482,172	0.45%	F
4BR	$2,540	$606,891	0.42%	F
5BR	$2,946	$728,773	0.4%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

13,453

Median Household Income

$74,977

Housing Units

7,143

Renter Percentage

70.5%

Occupancy Rate

84.5%

Renter Occupied

4,255

In ZIP code 78256, the Section 8 economics can be analyzed using the SAFMR (Small Area Fair Market Rent) and local market rent figures. For a two-bedroom apartment, the SAFMR for FY 2024 is set at $1820. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program in this specific ZIP code. However, the local market rent, measured by ZORI (Zillow Observed Rent Index), is currently at $1,566.

The actual payment a landlord receives from a Section 8 voucher depends on several factors including the tenant's portion of the rent and any utility allowances. Here’s a breakdown:

Tenant Portion: The tenant is required to pay 30% of their adjusted income towards rent. If the tenant's adjusted income is $1,200 per month, they would pay $360 towards rent.
Voucher Payment: The voucher will cover the difference between the tenant’s payment and the SAFMR, up to $1820. In this scenario, the voucher would pay out $1,460 ($1820 - $360).
Utility Allowances: Utility allowances are additional payments made by the housing authority to help cover utilities. These vary but are typically around $200-$300 per month. Assuming a $250 utility allowance, this would add to the landlord's total monthly income from the property.

Combining these elements, a landlord would receive approximately $1,710 per month from a Section 8 voucher for a two-bedroom apartment in ZIP 78256. This includes the $1,460 rent subsidy and a $250 utility allowance. Given the SAFMR is $1820 and the local market rent is $1,566, landlords can expect a surplus of about $144 per month when renting to a Section 8 tenant in this ZIP code. This surplus occurs because the voucher payment exceeds the local market rent, providing landlords with a higher rental income than the typical market rate.

To summarize, the economics of Section 8 in ZIP 78256 offer landlords a stable income source with a slight surplus over market rates. Landlords should understand the structure of the voucher payments to effectively manage their properties within this program.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.