Location: Fayette County, TX | Metro: Fayette County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 78938, as determined by the Department of Housing and Urban Development (HUD) for the fiscal year 2026, is set at $970. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, which is the amount that HUD will pay toward your rent. It does not represent the total rent you can charge; rather, it's the maximum reimbursement you'll receive from the government.
In comparison, the average market rent in ZIP 78938, based on recent Census American Community Survey (ACS) data, is approximately $688. This means that the Section 8 payment standard is higher than the typical rent in the area, potentially making it a lucrative option for landlords and small-portfolio investors looking to enter this market.
The 19.5% share of renters in the area indicates a significant portion of the population who might be interested in renting properties through the Section 8 program. This suggests a steady demand for subsidized housing units, making it likely that your property will remain occupied once it's enrolled in the program.
Note that the acquisition cost for properties in ZIP 78938 is listed as N/A, which means there isn't specific data available regarding the price point of acquiring a rental property here. However, the higher Section 8 payment standard compared to the average market rent can help offset any potential higher purchase costs or renovation expenses.
Before deciding to enroll your property in the Section 8 program, verify that your unit meets all the necessary housing quality standards (HQS) required by HUD. These standards ensure that the property is safe, decent, and sanitary for tenants, and failing to meet them can result in disqualification from the program.
In summary, the Section 8 program in ZIP 78938 offers a payment standard of $970, which is above the average local rent of $688. With nearly one-fifth of the population being renters, there is a strong likelihood of finding eligible tenants. Ensure your property meets HQS to avoid complications and to maximize the chances of securing a steady income stream.
Data Sources: FMR data from HUD (2027). 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.