FMR is below market; voucher rent may lag private rents.
0.80
1 BR
1 BR
0.82ratio
FMR$1,560
Market$1,910
vs market-$350
FMR is below market; voucher rent may lag private rents.
0.82
2 BR
2 BR
0.92ratio
FMR$1,850
Market$2,020
vs market-$170
FMR is near market; voucher and private rents are aligned.
0.92
3 BR
3 BR
1.11ratio
FMR$2,330
Market$2,090
vs market+$240
FMR is above market; underwrite to market rent.
1.11
4 BR
4 BR
1.20ratio
FMR$2,740
Market$2,280
vs market+$460
FMR is above market; underwrite to market rent.
1.20
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
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ZIP 78715 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 78715 (Austin, TX) is $1,850 a month. That is down 2.1% from $1,890 in FY 2026. Austin is in the Austin-Round Rock-San Marcos, TX MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,817. Among 85 ZIP codes in Travis County, 78715 is tied for the 37th-highest two-bedroom rent (county range $1,670–$2,730). The median county two-bedroom FMR in Texas is $1,105, so ZIP 78715 is 67% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 78715
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,500
$1,470
−2.0%
$1,323–$1,617
1BR
$1,590
$1,560
−1.9%
$1,404–$1,716
2BR
$1,890
$1,850
−2.1%
$1,665–$2,035
3BR
$2,400
$2,330
−2.9%
$2,097–$2,563
4BR
$2,820
$2,740
−2.8%
$2,466–$3,014
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 78715
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,470
$1,560
$1,850
$2,330
$2,740
FY 2026
$1,500
$1,590
$1,890
$2,400
$2,820
FY 2025
$1,580
$1,690
$1,990
$2,540
$2,940
FY 2024
$1,540
$1,660
$1,950
$2,500
$2,880
FY 2023
$1,270
$1,410
$1,650
$2,120
$2,450
Two-bedroom rent in nearby Travis County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 78715?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,817, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,635 to $1,999 a month; under the ZIP-level Small Area FMR of $1,850 it would be $1,665 to $2,035. 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 78715 in?
ZIP 78715 is in the Austin-Round Rock-San Marcos, TX MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,817.
How much did fair market rent change in ZIP 78715 for FY 2027?
The two-bedroom FMR fell 2.1%, from $1,890 in FY 2026 to $1,850 in FY 2027. Since FY 2023 it has risen 12.1%.
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