Location: Augusta-Richmond County, GA | Metro: Augusta-Richmond County, GA-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 29856 in fiscal year 2024 is set at $920. This figure represents the maximum amount that a landlord can receive from the Housing Choice Voucher program, commonly known as Section 8, for renting a unit in this area. It's important to note that this is the payment standard, not the actual rent that tenants will pay. The tenant is responsible for paying a portion of the rent, which is typically around 30% of their income.
In comparison, the average rent in ZIP 29856, according to the Census Bureau's American Community Survey, is $829. This suggests that the FMR is slightly higher than the typical market rent, providing landlords with a reasonable guarantee that they will be able to cover their costs and potentially earn a modest profit.
The demand for rental properties in this area is significant, with 13.3% of the population being renters. This indicates a steady pool of potential tenants who might be interested in Section 8 housing. Given the FMR and the local average rent, landlords can expect a competitive advantage when offering Section 8 units, as they will likely be able to fill vacancies quickly.
When considering the acquisition cost of a property in ZIP 29856, the median home value is approximately $130,715. For a landlord or small-portfolio investor looking to enter the Section 8 market, this figure provides a baseline for understanding the financial investment required to purchase a rental property. It's crucial to factor in ongoing maintenance, property management fees, and other expenses when evaluating profitability.
Before making the decision to become a Section 8 landlord, there is one key verification step you must take: ensure your property meets the Housing Quality Standards (HQS). These standards are set by the Department of Housing and Urban Development (HUD) and include criteria such as safety, cleanliness, and structural soundness. A property inspection will confirm whether your unit qualifies for the program, avoiding any delays or disqualifications that could occur if these requirements are not met.
In summary, the FMR of $920 in ZIP 29856 offers a solid payment standard for landlords participating in the Section 8 program. With a local average rent of $829, the demand for affordable housing is evident, driven by the significant 13.3% renter share. The median home value of $130,715 gives a clear indication of the acquisition cost. However, the most critical step is verifying that your property meets the HQS to ensure eligibility and smooth operation under the Section 8 program.
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.