Location: Atlanta-Sandy Springs-Roswell, GA | Metro: Atlanta-Sandy Springs-Roswell, GA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,120 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
The economics of Section 8 housing in ZIP code 30112, located in Atlanta, Georgia, revolve around the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1390 for fiscal year 2024. This SAFMR is specifically tailored to this ZIP code, reflecting the unique rental market conditions here.
A common misconception among landlords is that the entire SAFMR amount will be reimbursed by the housing authority. However, the actual reimbursement depends on the tenant's contribution and any applicable utility allowances. Tenants are required to pay 30% of their adjusted income toward rent. If a tenant's monthly income is $1000, their contribution would be $300. The housing authority then covers the remaining balance up to the SAFMR limit.
In addition to the base rent, there are utility allowances that can vary based on the type of unit and location. For ZIP 30112, the utility allowance for a two-bedroom apartment is $350 per month. This allowance is intended to help cover electricity, gas, water, and sewer costs, but it does not increase the overall reimbursement beyond the SAFMR cap.
To illustrate, if a landlord charges $1740 for a two-bedroom unit, and the tenant contributes $300, the housing authority would reimburse $1090 ($1390 SAFMR - $300 tenant contribution), leaving a shortfall of $350. Conversely, if the landlord charges $1000, the housing authority would still only reimburse $740 ($1000 - $300 tenant contribution), resulting in a surplus of $650 since the SAFMR allows for a maximum reimbursement of $1390.
Given the SAFMR of $1390, landlords should consider setting their rents at or slightly below this figure to avoid reimbursement gaps. It’s important to note that while the utility allowance adds to the total payment received by the landlord, it does not exceed the SAFMR cap. Therefore, the typical reimbursement gap for a two-bedroom apartment in ZIP 30112 is likely to be around $350, assuming market rates exceed the SAFMR. If market rates are lower, landlords might see a surplus, though the exact amount depends on the tenant's income and the landlord's rental pricing strategy.
Data Sources: FMR data from HUD (2027).
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.