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 | $1,330 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,120 | $450,668 | 0.47% | F |
U.S. Census Bureau data (2024)
The ZIP code 78662 stands out due to its unique demographic and economic characteristics. With a population of 3,015 residents, only 15.5% rent their homes, indicating a predominantly owner-occupied area. The median income in this ZIP is $94,005, which is above the national average, suggesting a relatively affluent community. Additionally, the median home value is quite high at $452,865, reflecting the expensive nature of the housing market in this region.
Turning to the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 78662 for fiscal year 2024 is set at $1,470. However, there is no available data on the market rent for the area, making it challenging to assess the competitiveness of Section 8 rents against private-market rates. Despite this lack of comparative data, the high median home value implies that rental properties in this ZIP would likely command premium prices, possibly higher than the FMR established by HUD.
The data signature for ZIP 78662 reads as stable, with a low percentage of renters and high median income and home values. This stability suggests that landlords and small-portfolio investors can expect consistent demand from tenants who qualify for Section 8 vouchers, though they should be prepared for a potentially limited pool of eligible renters given the area's affluence. The high median home value also indicates that the ZIP is attractive for those seeking long-term investment opportunities in real estate.
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.