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 | $2,170 |
| 1 Bedroom | $2,300 |
| 2 Bedrooms | $2,730 |
| 3 Bedrooms | $3,440 |
| 4 Bedrooms | $4,040 |
| 5 Bedrooms | $4,686 |
| 6 Bedrooms | $5,248 |
| 7 Bedrooms | $5,668 |
| 8 Bedrooms | $5,951 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,440 | $773,604 | 0.44% | F |
| 4BR | $4,040 | $1,247,792 | 0.32% | F |
| 5BR | $4,686 | $1,881,460 | 0.25% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 78733 in fiscal year 2024 is set at $2,870. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you will receive; it's the benchmark used by the government to determine what is considered fair rent in the area.
In comparison, the local market rent for ZIP 78733 is currently at $3,478, according to the ZORI (Zillow Rent Index). This means that while you might be able to charge higher rents outside of the Section 8 program, the vouchers will only cover up to $2,870 per month. The difference between these two numbers indicates that there is a gap between the voucher coverage and the average market rent in this area.
The 9.2% renter share in ZIP 78733 suggests that there is a strong demand for rental properties, especially those affordable to low-income renters who often rely on Section 8 vouchers. With a total annual demand estimated at around $1,158,770 for Section 8 tenants, landlords can expect steady occupancy rates if they choose to participate in the program.
Before deciding to enroll your property in the Section 8 program, verify that the property meets all the necessary housing quality standards (HQS) required by the local housing authority. These standards ensure that the property is safe, decent, and sanitary for tenants, and failing to meet them can result in penalties or disqualification from the program.
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.