Location: Burnet County, TX | Metro: Austin-Round Rock-San Marcos, TX MSA
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 78663, with a population of 503, is predominantly a homeowner-dominated area rather than a renter-heavy one. Only 17.0% of the residents are renters, which indicates that the demand for rental properties, including those supported by Section 8 vouchers, is relatively low. The median household income in this area is quite high at $168,125, suggesting that most residents have the financial capacity to own homes rather than rely on rental assistance programs.
The typical market rent in this ZIP is $1,688, which represents about 9.9% of the median household income. This is calculated by dividing the market rent by the median income and multiplying by 100. In comparison, the Fair Market Rent (FMR) for the area is set at $1,470 for FY 2024, indicating that the market rent is slightly above the FMR. However, the higher income levels in the area mean that even at this rate, the burden of rent on tenants' budgets remains relatively low.
A landlord in ZIP 78663 can expect tenants who are likely to be financially stable, given the high median income. These tenants might include individuals or families who prefer renting due to lifestyle choices or those who are temporarily residing in the area. While the percentage of renters is modest, the high income levels suggest that tenants receiving Section 8 vouchers will constitute a smaller portion of the total rental market. Landlords should be prepared to cater to a niche market of tenants who require financial assistance but still have access to a decent portion of their income for rent and other living expenses.
Data Sources: FMR data from HUD (2027). 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.