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 | $2,040 |
| 1 Bedroom | $2,120 |
| 2 Bedrooms | $2,310 |
| 3 Bedrooms | $2,750 |
| 4 Bedrooms | $3,270 |
| 5 Bedrooms | $3,793 |
| 6 Bedrooms | $4,248 |
| 7 Bedrooms | $4,588 |
| 8 Bedrooms | $4,817 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,310 | $341,514 | 0.68% | D |
| 3BR | $2,750 | $424,576 | 0.65% | D |
| 4BR | $3,270 | $531,134 | 0.62% | D |
| 5BR | $3,793 | $643,036 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 30028 is located in Cumming, Georgia, a part of the Atlanta metropolitan area. This neighborhood is characterized by a relatively low rental rate of 13.3%, indicating that it is primarily composed of owner-occupied homes. The population of the area is 38,433, and the median household income stands at a robust $138,011. With a median home value of $549,210, it is evident that ZIP 30028 is an affluent region, where homeownership is a significant asset.
In terms of rent economics, the Fair Market Rent (FMR) for ZIP 30028 in fiscal year 2024 is set at $2,000. However, the actual market rent, as measured by the Zillow Observed Rent Index (ZORI), is higher at $2,380. This discrepancy suggests that there is a potential gap between the government-subsidized rent levels and the local market rates, which could be a critical consideration for landlords and investors involved in Section 8 housing programs.
Given these economic conditions, ZIP 30028 might not be ideal for hands-off voucher operators who are looking for areas with a higher percentage of renters and potentially lower competition from market-rate properties. Instead, the area seems better suited for hands-on value-add buyers who can leverage the strong local economy and high property values to create opportunities for rental income that exceeds the subsidized rates. These investors would likely need to focus on improving property quality or adding amenities that attract tenants willing to pay above the FMR, thereby maximizing their returns while still participating in the Section 8 program.
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.