Section 8 Fair Market Rent (FMR) for ZIP 78767 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 housing in ZIP code 78767, located in Austin-Round Rock-San Marcos County, Texas, are straightforward. The Section 8 program uses Fair Market Rents (FMRs) to determine payment standards for rental units. For a two-bedroom apartment in ZIP 78767, the SAFMR (Small Area Fair Market Rent) for fiscal year 2024 is set at $1950. This figure is specific to this ZIP code and reflects the localized cost of renting.

To understand what a landlord receives from a Section 8 voucher, it's important to break down the components. The voucher covers the difference between the SAFMR and the tenant's portion of the rent, which is typically 30% of their income. Additionally, there are utility allowances that can vary based on the region and the size of the unit. For ZIP 78767, the utility allowance for a two-bedroom apartment is included in the SAFMR calculation, ensuring that landlords receive a consistent amount regardless of the tenant's actual utility usage.

A landlord should expect to receive the full SAFMR of $1950 per month for a two-bedroom unit, assuming the rent does not exceed this amount. If the rent is higher than the SAFMR, the landlord will only receive the SAFMR amount, and the tenant must cover the excess. However, if the rent is lower than the SAFMR, the landlord still receives the SAFMR amount, creating a surplus for the landlord. It's crucial for landlords to ensure that their rental properties meet all safety and habitability requirements to qualify for the Section 8 program.

In ZIP 78767, the typical reimbursement gap for a two-bedroom apartment is the difference between the local market rent and the SAFMR. Since the local market rent is currently unavailable, we cannot provide an exact figure for the gap or surplus. However, landlords should be aware that the SAFMR of $1950 represents a guaranteed minimum monthly payment, making it a stable source of income compared to the volatile nature of the private rental market.

To summarize, landlords in ZIP 78767 can rely on receiving $1950 per month for a two-bedroom apartment under the Section 8 program. This amount includes the tenant's portion of the rent and utility allowances. While the precise gap or surplus relative to the local market rent cannot be determined without that information, the SAFMR provides a clear benchmark for landlords participating in the 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.