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 |
ZIP code 78799, located within the Austin-Round Rock-San Marcos, TX MSA, presents a unique scenario for real estate analysis given the available data. The Fair Market Rent (FMR) for ZIP 78799 is set at $1950 for fiscal year 2024. This figure is critical for understanding the rental dynamics in the area, especially for landlords and small-portfolio investors interested in Section 8 housing.
Comparatively, typical ZIP codes within the Austin-Round Rock-San Marcos, TX MSA have higher FMRs, reflecting the general cost of living and rental trends in the broader metropolitan area. The absence of specific market rent and home value data for ZIP 78799 makes direct comparisons challenging, but the lower FMR suggests that this area might be considered a value pocket within the metro. Value pockets are characterized by lower-than-average costs while still being part of a larger, economically vibrant region.
The lack of data on renter share also complicates a full assessment, but it is reasonable to infer that the lower FMR could attract a higher proportion of renters, particularly those seeking affordable housing options. If the renter share were indeed higher, it would align with the characteristics of a Section 8 sweet spot, where there is a significant demand for subsidized housing.
To further contextualize, let's consider the broader implications of these figures. A value pocket such as ZIP 78799 can offer opportunities for investors looking to capitalize on the affordability gap. Landlords who can provide quality housing at or near the FMR level stand to benefit from a steady stream of tenants who qualify for Section 8 assistance.
In summary, based on the FMR of $1950, ZIP 78799 appears to be a value pocket within the Austin-Round Rock-San Marcos, TX MSA. This positioning can be advantageous for those involved in Section 8 housing, as it offers a balance between affordability and access to a major metropolitan area.
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.