Section 8 Fair Market Rent (FMR) for ZIP 29802 - 2027

Location: Augusta-Richmond County, GA | Metro: Augusta-Richmond County, GA-SC HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$940
1 Bedroom	$1,130
2 Bedrooms	$1,250
3 Bedrooms	$1,570
4 Bedrooms	$1,910
5 Bedrooms	$2,216
6 Bedrooms	$2,482
7 Bedrooms	$2,681
8 Bedrooms	$2,815

To determine if a landlord should buy in ZIP code 29802 for Section 8 purposes, follow these steps:

Step 1: Debt Service Coverage Ratio (DSCR): Does the Fair Market Rent (FMR) of $1030 cover the debt service on a property in this ZIP code?

If the FMR of $1030 does not exceed the total debt service required for a property in ZIP 29802, then the answer is No. Landlords must ensure that the rental income is sufficient to cover mortgage payments, property taxes, insurance, and other expenses.

Step 2: Market Rent Comparison: Is the market rent above, at, or below the FMR of $1030?

If the market rent is above the FMR, landlords can consider adjusting their expectations or finding properties that are more affordable. If the market rent is at or below the FMR, then it is more feasible to manage a Section 8 property profitably.

Step 3: Rental Demand Assessment: Are the percentage of renters and the days on market (DOM) sufficient to meet demand?

The data indicates that there is a need to evaluate the percentage of renters and the DOM in ZIP 29802. If the percentage of renters is high and the DOM is low, this suggests strong demand and a good opportunity for landlords. Conversely, if the percentage of renters is low and the DOM is high, then the answer is No.

Without specific figures for market rent, the percentage of renters, and DOM, it is difficult to provide a definitive yes or no. However, the analysis should follow the above decision tree to assess whether ZIP 29802 is a viable option for Section 8 investments.

For a landlord to make an informed decision, they must know the exact numbers for the market rent, the percentage of renters, and the DOM. These factors will determine the profitability and feasibility of managing a Section 8 property in ZIP 29802.

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.