Location: Augusta-Richmond County, GA | Metro: Augusta-Richmond County, GA-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 29828, located within the Augusta-Richmond County, GA-SC HUD Metro FMR Area, reveals several key insights. The HUD Fair Market Rent (FMR) for the area is set at $1020 per month for fiscal year 2024. In comparison, the market rent, as reported by the Census Bureau's American Community Survey (ACS), stands at $1,073 per month. This indicates that voucher tenants would generally cashflow at the HUD FMR rate, though slightly below the market rent. As such, landlords and small-portfolio investors can expect marginal cashflow when renting properties at the HUD FMR.
To further analyze the investment potential, consider the median home value in the area, which is $75,255. Using this figure, we can calculate the rent-to-price ratio. At $1020 per month, the annual rent is $12,240, resulting in a rent-to-price ratio of approximately 16.26%. This suggests that the rental income represents a significant portion of the property's value, making it an attractive option for those seeking stable rental income.
However, due to the lack of specific data on the median days on market (DOM) and the percentage of homes that experience price cuts, it is difficult to provide a detailed analysis of the rent-versus-buy dynamics. Nonetheless, the current conditions indicate that investing in this area primarily offers strong cashflow opportunities, rather than rapid appreciation or stability alone. The ability to generate consistent rental income, particularly with the support of Section 8 vouchers, makes cashflow the most compelling angle for investors in ZIP 29828.
Data Sources: FMR data from HUD (2027). 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.