Section 8 Fair Market Rent (FMR) for ZIP 30093 - 2027

Investment Score for ZIP 30093

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,600
1 Bedroom	$1,660
2 Bedrooms	$1,810
3 Bedrooms	$2,160
4 Bedrooms	$2,560
5 Bedrooms	$2,970
6 Bedrooms	$3,326
7 Bedrooms	$3,592
8 Bedrooms	$3,772

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,810	$215,847	0.84%	C
3BR	$2,160	$319,871	0.68%	D
4BR	$2,560	$369,505	0.69%	D
5BR	$2,970	$410,521	0.72%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 30093 (Norcross, GA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 30093, as of 2026, is set at $1950 for a two-bedroom unit. However, the actual rent for a two-bedroom unit in Norcross, based on Zillow's median price, is significantly higher at $218,775. This discrepancy suggests that the FMR is substantially lower than the market rate, creating a challenge for Section 8 voucher holders who must find units that meet the FMR criteria. The FMR for a three-bedroom unit is $2340, which is still below the market rate, indicating that voucher holders would struggle to find affordable housing options, particularly if they need larger units. Given that the FMR for a two-bedroom unit represents only 48.3% of the median household income ($48,404), there is a significant gap between what voucher holders can afford and what is available in the market. This means that landlords accepting Section 8 vouchers will have to keep their rental rates well below the market average, potentially limiting their profitability. #### Affordability & Renter Profile ZIP code 30093 has a high renter population of 70.4%, suggesting a strong demand for rental properties. With a median household income of $48,404, many residents rely heavily on assistance programs like Section 8 to manage their housing costs. The occupancy rate of 92.6% indicates that the rental market is relatively tight, with few vacancies available. Given the high renter percentage and low vacancy rate, it is likely that competition for rental units is fierce, especially among those who depend on government subsidies. The high price-to-FMR ratio of 9.3x further underscores the affordability challenges faced by renters. For example, a two-bedroom unit priced at $218,775 is nearly 11 times the FMR of $1950. This suggests that the majority of rental units in Norcross are out of reach for most Section 8 voucher holders without additional financial support. #### Investor Angle From an investor perspective, the ZIP code 30093 presents a mixed picture. While the high renter percentage and occupancy rate suggest a robust demand for rental properties, the FMR is significantly lower than the market rate. This means that investors focusing solely on Section 8 tenants would face limited cash flow potential due to the low rent ceiling imposed by the FMR. To illustrate, a two-bedroom unit at the FMR of $1950 would generate less revenue compared to the market rate of $218,775. The FMR is set to ensure affordability but does not align with the current market conditions. Therefore, investors would need to carefully consider the balance between accepting Section 8 vouchers and maintaining profitability through higher rents. The investment grade in this ZIP code would be moderate to low for Section 8-focused investors. The primary constraint is the low FMR relative to the market rate, which limits potential returns. Additionally, the high price-to-FMR ratio indicates that the overall market is expensive, making it challenging to acquire properties at a price point that allows for positive cash flow when renting exclusively to Section 8 voucher holders. #### Specific Actionable Insights 1. **Target Smaller Units**: Investors should focus on acquiring smaller units such as one-bedroom or studio apartments, where the FMR is lower. For instance, the FMR for a one-bedroom unit is $1780, which is still below the median household income but closer to the market rate. This could provide better cash flow opportunities while still being accessible to Section 8 voucher holders. 2. **Consider Mixed Tenant Strategies**: To maximize profitability, investors might want to adopt a mixed tenant strategy. This involves renting some units to Section 8 voucher holders at the FMR and others to market-rate tenants. For example, a two-bedroom unit rented to a market-rate tenant could generate $218,775 annually, while the same unit rented to a Section 8 voucher holder would yield only $1950 per month. By diversifying the tenant mix, investors can leverage the strong rental demand while also benefiting from the stability provided by government-backed vouchers. #### Bottom Line Based on the provided data, the recommendation for Section 8-focused investors in ZIP code 30093 is to **skip** this market unless they can implement a mixed tenant strategy. The high price-to-FMR ratio and the significant gap between FMR and market rates make it difficult to achieve positive cash flow solely through Section 8 vouchers. Investors should look for areas with a more favorable alignment between FMR and market rates to ensure better financial outcomes.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.