Location: Augusta-Richmond County, GA | Metro: Augusta-Richmond County, GA-SC HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,400 | $289,909 | 0.48% | F |
U.S. Census Bureau data (2024)
In ZIP code 29164, there are several factors that could present challenges for a first-time Section 8 landlord. Tenant turnover is likely to be higher due to the difference between the market rent of $905 and the Fair Market Rent (FMR) of $940 for fiscal year 2024. This discrepancy suggests that tenants might find it easier to move to non-subsidized housing where they can afford higher rents, leading to increased turnover.
Vacancy exposure is another concern. The average number of days on the market (DOM) is not available, which makes it difficult to predict how long properties might remain vacant. High vacancy rates can lead to significant financial losses for landlords who rely on rental income to cover mortgage payments and other expenses.
Deferred maintenance is also a risk. With a typical home value of $148,962 and a median income of $49,440, homeowners in this area may struggle to keep up with necessary repairs and upgrades. This could result in properties becoming less attractive to potential tenants or failing to meet the required standards set by the Housing Choice Voucher program.
However, these risks must be weighed against the strong demand for rental housing in the area. The 23.0% renter share indicates a high concentration of renters, many of whom may require assistance through programs such as Section 8. This high density of renters often translates into a robust demand for subsidized housing, potentially stabilizing occupancy rates despite the challenges.
Verdict: Moderate risk for a first-time Section 8 landlord.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.