Location: San Antonio-New Braunfels, 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 | $1,120 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,850 | $451,762 | 0.41% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 78623 in fiscal year 2024 is set at $1530. This figure represents the payment standard for Section 8 housing assistance in your area, which means that if you participate in the program, you will receive a subsidy of up to $1530 per month for a unit in this ZIP code. It's important to note that this is not the rent you can charge tenants; it's the maximum amount the government will pay towards the rent.
To understand the demand for Section 8 rentals, we look at the renter share, which is currently at 0.0%. This indicates that there is a significant demand for affordable housing in ZIP 78623, suggesting that many potential tenants would be interested in Section 8 units. However, the lack of a specific percentage makes it difficult to gauge exactly how competitive the market is for these subsidies.
The average acquisition cost for properties in ZIP 78623 is $484,463. This is the typical price you might expect to pay for a property suitable for Section 8 tenancy. While this may seem high, remember that the goal is to ensure the property meets all necessary standards for safety and habitability, which can increase costs.
Before deciding to enter into a Section 8 agreement, you must verify that your property meets the Housing Quality Standards (HQS). These standards are set by the U.S. Department of Housing and Urban Development (HUD) and cover a wide range of criteria including structural integrity, heating, plumbing, and electrical systems. Ensuring your property complies with these standards is essential to qualify for the program and to avoid any future disputes or issues with the housing authority.
In summary, the FMR of $1530 provides a benchmark for the subsidy you can receive, while the high acquisition cost of $484,463 reflects the investment required. The 0.0% renter share suggests strong interest from potential tenants, but thorough verification of HQS compliance is critical before proceeding.
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.