Section 8 Fair Market Rent (FMR) for ZIP 78757 - 2027

Location: Austin-Round Rock-San Marcos, TX | Metro: Austin-Round Rock-San Marcos, TX MSA

Investment Score for ZIP 78757

Monthly Rent (2BR)

$1,790

Median Price (2BR)

$432,939

1% Rule

0.41%

Annual Yield

4.96%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,430
1 Bedroom	$1,510
2 Bedrooms	$1,790
3 Bedrooms	$2,260
4 Bedrooms	$2,650
5 Bedrooms	$3,074
6 Bedrooms	$3,443
7 Bedrooms	$3,718
8 Bedrooms	$3,904

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,510	$169,558	0.89%	C
2BR	$1,790	$432,939	0.41%	F
3BR	$2,260	$623,709	0.36%	F
4BR	$2,650	$906,575	0.29%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

23,856

Median Household Income

$103,860

Housing Units

11,985

Renter Percentage

40.1%

Occupancy Rate

94.6%

Renter Occupied

4,544

The ZIP code 78757 is located in the northern part of Austin, Texas, known for its suburban charm and proximity to major employment centers. This area offers a mix of residential and commercial spaces, making it attractive for both homeowners and renters.

Fair Market Rent (FMR): The FMR for ZIP 78757 in fiscal year 2024 is set at $1,820, indicating that the average rental price for a two-bedroom apartment should be around this amount to be considered affordable for low-income families.
Market Rent (ZORI): According to Zillow's ZORI index, the market rent for ZIP 78757 is $1,841, suggesting that the local rental market is slightly above the FMR, reflecting a competitive environment where demand exceeds supply.
Median Home Value: The median home value in ZIP 78757 is $601,606, which is higher than the national average but typical for Austin's growing real estate market.
Renter Share: Approximately 40.1% of residents in ZIP 78757 are renters, highlighting a significant portion of the population that relies on the rental market for housing.
Median Income: The median household income in ZIP 78757 is $103,860, demonstrating a relatively affluent community capable of supporting higher rents and property values.

The data points indicate a robust rental market in ZIP 78757, with fair market rents closely aligned with actual market rents. Given the high median income and substantial renter share, there is a strong demand for rental properties. However, the median home value suggests that homeownership is also prevalent, which could affect the rental market dynamics. Investors looking to enter this market should focus on properties that meet the affordability criteria while also catering to the preferences of the area's residents, ensuring a steady stream of tenants and competitive returns on investment.

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.