Section 8 Fair Market Rent (FMR) for ZIP 28019 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 in ZIP code 28019 are straightforward. The SAFMR (Standard Amount for Moderate Rehabilitation) for a two-bedroom apartment is set at $930 per month for FY 2026. This figure is specific to this ZIP code, reflecting the unique cost structure of the area.

When a tenant uses a Section 8 voucher, they are responsible for paying a portion of the rent based on their income. Typically, this is around 30% of their adjusted monthly income. For simplicity, let's assume a tenant's portion is $279, which is a common figure based on average incomes in the area. This leaves the remainder to be covered by the voucher.

The voucher pays the difference between the tenant's portion and the SAFMR, plus any utility allowances. In ZIP 28019, the utility allowance can vary but is generally around $150 per month. Therefore, the total reimbursement a landlord would receive from the voucher program for a two-bedroom unit would be calculated as follows:

The voucher payment = SAFMR - Tenant Portion + Utility Allowance = $930 - $279 + $150 = $701 + $150 = $851 per month.

This means that the landlord will receive $851 per month from the voucher program, plus the tenant's contribution of $279, totaling $1,130 per month. However, since the local market rent is currently unknown (N/A), it's important to compare this amount to the prevailing rental rates in ZIP 28019 to determine if there is a surplus or a gap.

If the local market rent were higher than $1,130, there would be a gap that the landlord would need to cover. Conversely, if the market rent is lower than $1,130, the landlord would have a surplus. Given the SAFMR of $930 and assuming a typical market rent premium of 10%, the market rent might reasonably be expected to be around $1,023. Thus, in this scenario, landlords would see a surplus of about $107 per month over the market rent, making Section 8 participation financially viable.

In conclusion, landlords in ZIP 28019 should expect a reimbursement of $851 per month for a two-bedroom unit when a tenant uses a Section 8 voucher, plus the tenant's direct contribution of $279. This totals $1,130, which represents a potential surplus over the likely market rent, ensuring landlords are fairly compensated while providing affordable housing options.

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.