Section 8 Fair Market Rent (FMR) for ZIP 78709 - 2027
Location: Austin-Round Rock-San Marcos, TX | Metro: Austin-Round Rock-San Marcos, TX MSA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,470 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,850 |
| 3 Bedrooms | $2,330 |
| 4 Bedrooms | $2,740 |
| 5 Bedrooms | $3,178 |
| 6 Bedrooms | $3,559 |
| 7 Bedrooms | $3,844 |
| 8 Bedrooms | $4,036 |
A skeptical investor considering ZIP 78709 in Texas might have several concerns regarding the feasibility of offering rental properties through the Section 8 program. Here are some key objections along with insights from the available data.
- Will FMR $1950 (zip FY 2024) cover the mortgage on a property? The Fair Market Rent (FMR) for ZIP 78709 is set at $1950 for fiscal year 2024. However, without specific data on median home values or typical mortgage payments in the area, it's challenging to definitively state whether this amount will sufficiently cover a mortgage. Landlords should review local real estate listings and mortgage calculators to estimate if a property can be acquired and maintained within these parameters.
- Is there enough renter demand at the specified rate? Data on renter demand at $1950 per month is not provided. To accurately assess the demand, an investor would need to analyze local rental vacancy rates and the number of households participating in the Section 8 program. Additionally, understanding the demographic makeup of ZIP 78709, particularly the portion of low-income families who qualify for housing assistance, is crucial. Without this information, it's difficult to provide a clear assessment of demand.
- Will vouchers keep pace with market rents? While the FMR for ZIP 78709 is established at $1950 for FY 2024, whether voucher amounts will adjust in line with potential future increases in market rents remains uncertain. Historically, voucher amounts can lag behind actual market conditions. Investors should monitor trends in ZIP 78709's rental market and any updates to the Section 8 voucher payment standards to anticipate potential gaps between voucher coverage and actual rents.
The data available provides a snapshot of the Fair Market Rent but falls short in addressing all aspects of these critical questions. For a comprehensive analysis, further research into local real estate costs and rental market dynamics is necessary.
Data Sources: FMR data from HUD (2027).
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.