Location: Augusta-Richmond County, GA | Metro: Augusta-Richmond County, GA-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The ZIP code 29834, located within the Augusta-Richmond County, GA-SC HUD Metro FMR Area, presents itself as a solid cash-flow anchor for a Section 8 portfolio strategy. The Federal Market Rent (FMR) for this area in fiscal year 2024 is set at $1040, which is significantly higher than the market rent of $745. This creates a spread of $295 per month, allowing landlords to receive a higher subsidy rate than what the typical market rent would be, thus securing positive cash flow.
The median home value being N/A suggests that this area might be predominantly rental-focused, which aligns well with the cash-flow anchor concept. Landlords can rely on a steady stream of income without the volatility associated with home sales and price fluctuations. Additionally, the N/A% price-cut share and N/A-day DOM indicate that there isn't significant data available on home sales, further supporting the idea that this ZIP is more oriented towards rentals.
The high renter share of 74.1% also supports the cash-flow anchor designation. With such a large percentage of residents renting, landlords can expect consistent demand for rental properties. Moreover, the median income of $26,339 aligns closely with the eligibility requirements for Section 8, making it a suitable location where many tenants will qualify for the program. This combination of factors ensures that landlords in ZIP 29834 can count on a reliable tenant base that benefits from government subsidies, leading to stable and predictable cash flows.
In conclusion, ZIP 29834 serves as an ideal cash-flow anchor within a Section 8 portfolio strategy due to its favorable spread between FMR and market rents, high renter share, and alignment with the income levels of potential tenants eligible for Section 8 assistance. This makes it a valuable addition for landlords and small-portfolio investors looking to secure a stable source of income.
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.