Location: Atlanta-Sandy Springs-Roswell, GA | Metro: Atlanta-Sandy Springs-Roswell, GA 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 | $1,890 |
| 1 Bedroom | $1,970 |
| 2 Bedrooms | $2,140 |
| 3 Bedrooms | $2,550 |
| 4 Bedrooms | $3,030 |
| 5 Bedrooms | $3,515 |
| 6 Bedrooms | $3,937 |
| 7 Bedrooms | $4,252 |
| 8 Bedrooms | $4,465 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,140 | $284,981 | 0.75% | D |
| 3BR | $2,550 | $354,956 | 0.72% | D |
| 4BR | $3,030 | $431,742 | 0.7% | D |
| 5BR | $3,515 | $523,438 | 0.67% | D |
U.S. Census Bureau data (2024)
A skeptical investor looking into Grayson, GA (ZIP 30017) might raise several concerns regarding the feasibility of investing in rental properties under the Section 8 program. Let's address these points head-on using available data.
Will FMR $2130 (zip FY 2024) cover the mortgage on a $439,108 home?
The Fair Market Rent (FMR) for ZIP 30017 in fiscal year 2024 is set at $2130 per month. This figure represents the average rent that a landlord can expect to receive through the Section 8 program. However, the FMR does not directly correlate with the ability to cover a mortgage on a property valued at $439,108. The cost of a mortgage depends on factors such as interest rates, loan terms, and down payment size. Assuming a typical 30-year fixed-rate mortgage with an interest rate around 5%, the monthly mortgage payment on a $439,108 home could be approximately $2,300 without considering any down payment. Therefore, the FMR alone would not sufficiently cover the mortgage payment. Additional considerations include potential tax benefits and subsidies that could offset the gap between the FMR and the mortgage payment.
Is there enough renter demand at 18.8%?
The percentage of renters in ZIP 30017 is 18.8%. This figure indicates that nearly one-fifth of the housing units are rented, suggesting a moderate level of demand. However, it is important to note that this statistic alone does not provide a complete picture of the rental market. To understand if there is sufficient demand, one must also consider the vacancy rate, the number of available rental units, and the population growth trends. An 18.8% rental rate implies a steady but not overwhelming demand, which could still support a Section 8 investment if the market conditions are favorable and the property is well-managed.
Will vouchers keep pace with $2,126 market rents?
The market rent in ZIP 30017 is currently $2,126 per month. While the Section 8 voucher program aims to cover a significant portion of this amount, it is not guaranteed to match the exact market rent. The voucher amount is based on the FMR and other regional adjustments, which may not always align with the local market conditions. In this case, the FMR of $2130 is slightly above the market rent, indicating that vouchers should generally cover the costs. However, the actual amount paid by the voucher can vary depending on the tenant's income and other factors. Landlords should be prepared for potential discrepancies and ensure their properties meet the necessary qualifications to participate in the program effectively.
In conclusion, while the data provides some reassurance regarding the viability of Section 8 investments in ZIP 30017, it also highlights areas where further investigation is needed. The FMR may not fully cover mortgage payments, the rental demand is moderate, and vouchers should keep pace with market rents but may not always do so perfectly. These insights offer a balanced view of the opportunities and challenges in Grayson, GA.
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.