Location: Austin-Round Rock-San Marcos, TX | Metro: Austin-Round Rock-San Marcos, TX MSA
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 | $1,350 |
| 1 Bedroom | $1,430 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,140 |
| 4 Bedrooms | $2,520 |
| 5 Bedrooms | $2,923 |
| 6 Bedrooms | $3,274 |
| 7 Bedrooms | $3,536 |
| 8 Bedrooms | $3,713 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,700 | $346,396 | 0.49% | F |
| 3BR | $2,140 | $396,097 | 0.54% | F |
| 4BR | $2,520 | $491,645 | 0.51% | F |
U.S. Census Bureau data (2024)
The ZIP code 78612, located in Bastrop, TX, has a population of 19,799 residents, with 14.8% of them being renters. This indicates that the area is primarily dominated by homeowners rather than renters. The median household income in this ZIP is $95,496, which is relatively high compared to the national average. However, the market rent for the area is $1,481 per month, representing approximately 15.5% of the median household income.
To put this into perspective, the Fair Market Rent (FMR) for ZIP 78612 is set at $1,810 per month for FY 2024. This means that the actual market rent is lower than the FMR, suggesting that there might be some financial pressure on potential tenants to find affordable housing. The difference between the market rent and FMR also implies that the demand for Section 8 vouchers could be significant among the renter population, given the higher cost of fair market rental units.
In terms of the tenant profile that landlords can expect in ZIP 78612, they will likely encounter individuals and families who are seeking affordable housing options. These tenants may include those whose incomes are low enough to qualify for Section 8 vouchers, as well as others who are willing to pay market rates but still find it challenging to afford higher rents. Given the relatively low percentage of renters in the area, landlords should be prepared to compete for tenants who have access to vouchers, as these vouchers can make up a substantial portion of the rent.
The high median income in the area contrasts with the rental situation, indicating that while the overall economic status is favorable, the renter segment faces affordability issues. Landlords should consider offering competitive rents that align closely with the market rate of $1,481 to attract and retain tenants, especially those utilizing Section 8 vouchers. Additionally, maintaining properties in good condition and ensuring compliance with housing quality standards will be crucial to appeal to both voucher holders and other renters looking for value in their housing costs.
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.