Section 8 Fair Market Rent (FMR) for ZIP 30002 - 2027

Location: Atlanta-Sandy Springs-Roswell, GA | Metro: Atlanta-Sandy Springs-Roswell, GA HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,080
1 Bedroom	$1,120
2 Bedrooms	$1,220
3 Bedrooms	$1,450
4 Bedrooms	$1,730
5 Bedrooms	$2,007
6 Bedrooms	$2,248
7 Bedrooms	$2,428
8 Bedrooms	$2,549

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

5,225

Median Household Income

$89,750

Housing Units

3,145

Renter Percentage

36.4%

Occupancy Rate

85.0%

Renter Occupied

974

Housing Authorities Serving ZIP 30002

Georgia Residential Finance (Atlanta, GA) - 18,263 Section 8 vouchers
Housing Authority of the County of Dekalb, GA (Decatur, GA) - 4,722 Section 8 vouchers
Housing Authority of the City of Decatur (Decatur, GA) - 1,043 Section 8 vouchers
Housing Authority of the City of Lithonia (Lithonia, GA) - 200 Section 8 vouchers

A landlord considering investing in ZIP code 30002, Avondale Estates, GA, for Section 8 properties must carefully evaluate several key factors. Here is a structured approach to making that decision:

Does FMR $1310 (zip FY 2024) clear debt service on a $539,413 property?
- Yes: The Fair Market Rent (FMR) of $1310 per month is sufficient to cover the debt service on a property valued at $539,413. Assuming typical financing terms, this FMR would likely exceed the monthly mortgage payment, providing positive cash flow.
- No: If the FMR does not clear the debt service, then purchasing in this area for Section 8 purposes is not advisable. The FMR must be high enough to ensure the rental income covers the mortgage and other expenses.
Is market rent $1,186 (Census ACS) above, at, or below FMR?
- Market rent is below FMR: At $1,186, the market rent is lower than the FMR of $1310. This indicates that Section 8 tenants can pay higher rents than what the market offers, which could be advantageous for landlords looking to maximize their returns.
- Market rent equals FMR: If the market rent were to equal the FMR, there would be no financial advantage in having Section 8 tenants over regular market renters. However, this scenario is not applicable given the provided data.
- Market rent exceeds FMR: This scenario is not present based on the given information. If it were, it would suggest that landlords might prefer regular market renters over Section 8 tenants due to higher potential income.
Are 36.4% renters + N/A-day days on market enough demand?
- It depends: With 36.4% of residents being renters, there is a notable portion of the population who may be interested in renting. However, the lack of information regarding days on market (DOM) makes it difficult to assess the speed at which properties are rented out. A low DOM would indicate strong demand, whereas a high DOM would suggest the opposite. Without specific DOM data, the decision hinges on whether the percentage of renters alone is enough to guarantee a steady stream of potential tenants.

In conclusion, if the FMR of $1310 clears the debt service on a $539,413 property and the market rent is below the FMR, then purchasing in ZIP 30002 for Section 8 purposes is financially viable. The demand for rentals, represented by the 36.4% of renters, needs further evaluation with DOM data to determine if it is robust enough to support quick tenancy turnover.

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.