Location: Lee County, 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 | $1,330 |
| 1 Bedroom | $1,410 |
| 2 Bedrooms | $1,670 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,670 | $235,385 | 0.71% | D |
| 3BR | $2,120 | $271,344 | 0.78% | D |
| 4BR | $2,490 | $297,310 | 0.84% | C |
| 5BR | $2,888 | $337,684 | 0.86% | C |
U.S. Census Bureau data (2024)
The ZIP code 78621 in Texas has a population of 30,411, with 18.9% of residents being renters. This indicates that while there is a notable rental market, it is not heavily dominated by renters compared to other areas. The median household income stands at $98,534, which provides a solid financial backdrop for the region.
The market rent in this area is $1,858, representing approximately 19% of the median household income. This percentage is significant but still manageable for many households. It's important to note that the Fair Market Rent (FMR) for the area is set at $1,550 for FY 2024, suggesting that rents are above the FMR threshold. Landlords should be aware that tenants relying on Section 8 vouchers might find it challenging to cover the entire rent amount, especially in units priced higher than the FMR.
A landlord in ZIP 78621 can expect a mix of tenants, including those who might use Section 8 vouchers. However, due to the relatively high market rent, some tenants may need additional income sources or co-signers to meet the cost. The typical tenant profile will likely include individuals or families who are financially stable and can afford the higher rent, possibly supplemented by vouchers if they qualify for assistance.
To summarize, ZIP 78621 is not a renter-heavy area with deep voucher demand. Instead, it leans towards a balance between homeowners and renters, with a market rent that exceeds the FMR. Landlords should prepare for a tenant pool that includes some voucher users but requires supplementary income to cover the full rent amount.
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.