Location: Austin-Round Rock-San Marcos, TX | Metro: Austin-Round Rock-San Marcos, TX MSA
| 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 |
The Fair Market Rent (FMR) for ZIP code 78762 in fiscal year 2024 is set at $1950. This figure represents the maximum amount that a landlord can charge as rent for a Section 8 property in this area. It's important to note that this is not the actual rent you will receive; it is the benchmark used by the housing authority to determine the maximum rent subsidy for tenants.
While the local median rent is listed as N/A, the FMR provides a guideline for pricing your rental unit. The percentage of renters in the area who could potentially benefit from the Section 8 program is also N/A%, indicating the level of demand for affordable housing options. However, since these figures are not available, we must rely on the FMR to guide our expectations.
The average acquisition cost for properties in ZIP 78762 is listed as N/A. This means that when purchasing a property for Section 8 purposes, you should expect to pay an average price that aligns with the local market conditions. Although the exact figures are not provided, understanding the FMR helps in setting realistic expectations for the rental income you can anticipate.
Before proceeding with your first Section 8 rental in ZIP 78762, verify that your property meets all the necessary quality and safety standards set by the housing authority. These standards ensure that the living conditions are suitable for tenants and are essential for approval under the Section 8 program.
To summarize, the FMR of $1950 guides the maximum allowable rent for a Section 8 property in ZIP 78762. While local rent and acquisition costs are currently unknown, the demand for affordable housing is indicated by the share of renters eligible for the program. Ensure your property complies with all required standards to proceed smoothly with the Section 8 program.
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.