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 | $750 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,260 | $367,282 | 0.34% | F |
| 4BR | $1,530 | $448,168 | 0.34% | F |
U.S. Census Bureau data (2024)
The ZIP code 29805 is primarily a homeowner-dominated area, with only 13.7% of its population renting. This indicates that there is likely a scarcity of Section 8 vouchers in the area, making it less favorable for landlords specifically targeting tenants with such assistance.
The median household income in ZIP 29805 stands at $56,185. Given the typical market rent of $825, this represents approximately 15% of the median household income. This percentage suggests that while rent is not prohibitively expensive, it still constitutes a significant portion of the average resident's earnings, potentially limiting disposable income for other necessities.
Comparing the market rent to the Fair Market Rent (FMR) set at $970 for FY 2024, we see that the actual rent in ZIP 29805 is lower, indicating a somewhat competitive market where landlords may need to adjust their expectations regarding rental prices.
A landlord in ZIP 29805 can expect a tenant profile that includes individuals who are either part of the 13.7% renter demographic or those who might be utilizing housing assistance but are still likely to have a moderate income level. While the demand for Section 8 vouchers is present, it is not overwhelming due to the relatively low percentage of renters. Therefore, landlords should consider diversifying their tenant pool beyond just those seeking government subsidies.
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.