78131

ZIPSAFMR

Comal County, TX

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,260	$1,070	1.9%
1 BR	$1,370	$1,240	0.7%
2 BR	$1,650	$1,700	0.4%
3 BR	$2,130	$1,990	1.1%
4 BR	$2,480	$2,520	0.1%
5 BR	$2,852	Not available	0.1%
6 BR	$3,280	Not available	0.1%
7 BR	$3,772	Not available	0.1%
8 BR	$4,338	Not available	0.1%

Purchase Price Calculator

Maximum purchase price

$190,703

Cost breakdown

+Likely effective rent$1,700

HUD FMR$1,650

Market rent$1,730

Est. payment standard (103%)Used$1,700

-Principal and interest-$964

Loan amount$152,562

Down payment$38,141

Rate6.50%

Term30 years

-Operating costs-$536

Property taxes-$191

Insurance-$175

Utilities$0

HOA$0

Management-$170

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$27,329(71.7% ROI)

Projected value

$205,366

Return breakdown

Property appreciation+$14,663

Loan principal paid down+$5,466

Rental cash flow+$7,200

5-year hold

+$46,807(122.7% ROI)

Projected value

$215,763

Return breakdown

Property appreciation+$25,060

Loan principal paid down+$9,747

Rental cash flow+$12,000

10-year hold

+$100,639(263.9% ROI)

Projected value

$244,116

Return breakdown

Property appreciation+$53,413

Loan principal paid down+$23,226

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.18ratio

FMR$1,260

Market$1,070

vs market+$190

FMR is above market; underwrite to market rent.

1.18

1 BR

1.10ratio

FMR$1,370

Market$1,240

vs market+$130

FMR is above market; underwrite to market rent.

1.10

2 BR

0.95ratio

FMR$1,650

Market$1,730

vs market-$80

FMR is near market; voucher and private rents are aligned.

0.95

3 BR

1.07ratio

FMR$2,130

Market$1,990

vs market+$140

FMR is near market; voucher and private rents are aligned.

1.07

4 BR

0.98ratio

FMR$2,480

Market$2,540

vs market-$60

FMR is near market; voucher and private rents are aligned.

0.98

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 78131 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 78131 (New Braunfels, TX) is $1,650 a month. That is up 2.5% from $1,610 in FY 2026. New Braunfels is in the San Antonio-New Braunfels, TX HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 16 ZIP codes in Comal County, 78131 has the 9th-highest two-bedroom rent (county range $1,190–$2,160). The median county two-bedroom FMR in Texas is $1,105, so ZIP 78131 is 49% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 78131
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,220	$1,260	+3.3%	$1,134–$1,386
1BR	$1,330	$1,370	+3.0%	$1,233–$1,507
2BR	$1,610	$1,650	+2.5%	$1,485–$1,815
3BR	$2,070	$2,130	+2.9%	$1,917–$2,343
4BR	$2,410	$2,480	+2.9%	$2,232–$2,728

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 78131
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,260	$1,370	$1,650	$2,130	$2,480
FY 2026	$1,220	$1,330	$1,610	$2,070	$2,410
FY 2025	$1,260	$1,390	$1,690	$2,150	$2,530
FY 2024	$1,190	$1,340	$1,630	$2,060	$2,470
FY 2023	$1,020	$1,180	$1,430	$1,820	$2,220

Two-bedroom rent in nearby Comal County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 78131
78006	$1,700	+3.0%
78015	$1,730	+4.8%
78070	$1,410	−14.5%
78108	$2,160	+30.9%
78124	$1,400	−15.2%
78130	$1,680	+1.8%
78131Current	$1,650	—
78132	$1,720	+4.2%
78133	$1,400	−15.2%
78154	$1,830	+10.9%
78163	$1,730	+4.8%
78266	$2,160	+30.9%

Questions about ZIP 78131 rents

How much will Section 8 pay for a two-bedroom in ZIP 78131?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,650, that basic range is $1,485 to $1,815 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 78131 in?

ZIP 78131 is in the San Antonio-New Braunfels, TX HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 78131 for FY 2027?

The two-bedroom FMR rose 2.5%, from $1,610 in FY 2026 to $1,650 in FY 2027. Since FY 2023 it has risen 15.4%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rent New Braunfels, TX fair market rent TX statewide rents What is SAFMR?Data sources