Section 8 Fair Market Rent (FMR) for ZIP 30132 - 2027

Investment Score for ZIP 30132

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	$1,480
1 Bedroom	$1,540
2 Bedrooms	$1,680
3 Bedrooms	$2,000
4 Bedrooms	$2,380
5 Bedrooms	$2,761
6 Bedrooms	$3,092
7 Bedrooms	$3,339
8 Bedrooms	$3,506

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,680	$245,645	0.68%	D
3BR	$2,000	$327,238	0.61%	D
4BR	$2,380	$387,117	0.61%	D
5BR	$2,761	$449,468	0.61%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 30132 (Dallas, GA) #### Section 8 Voucher Dynamics In ZIP code 30132, the Fair Market Rent (FMR) for a two-bedroom unit is set at $1660 per month. This figure represents 18.1% of the median household income of $109,914, indicating that it is relatively affordable for the average resident. However, the actual rent prices in the area are significantly higher. The Zillow median price for a two-bedroom property is $246,573, which translates to a monthly rental cost of approximately $12.4 times the FMR. This means that the typical market rent for a two-bedroom unit would be around $20,566.40 per year, or about $1714 per month. Given that the FMR is $1660, voucher holders face a substantial gap between what they can afford and what the market demands. They may struggle to find units that accept their vouchers without paying additional out-of-pocket costs. #### Affordability & Renter Profile The population of Dallas, GA (ZIP 30132) stands at 53,348, with 20.2% of residents being renters. The occupancy rate is high at 95.4%, suggesting that the rental market is quite tight. With a median household income of $109,914, the majority of residents have a relatively high income level, making them less dependent on government assistance programs like Section 8. However, the 20.2% of renters could include individuals who benefit from the voucher program. These renters are likely to be constrained by the high price-to-FMR ratio, which makes finding affordable housing challenging. The tight market conditions mean that landlords have significant leverage over rental prices, further complicating the situation for voucher holders. #### Investor Angle From an investor’s perspective, the ZIP code 30132 presents a mixed picture. While the high occupancy rate indicates strong demand, the price-to-FMR ratio suggests that the market rents are far above the FMR levels. For an investor to achieve cash flow positivity, they must ensure that the rental income covers all expenses, including mortgage payments, maintenance, and other operational costs. At the FMR of $1660 for a two-bedroom unit, the cash flow would be negative if the investor had to charge market rates to remain competitive. The investment grade in this area would be considered low due to the limited number of voucher holders who can afford the high rents, despite the high demand for rentals. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the high price-to-FMR ratio, investors should consider focusing on smaller units such as one-bedroom apartments. The FMR for a one-bedroom unit is $1510, which is closer to the median income level. This could make it easier to attract tenants who use Section 8 vouchers without requiring them to pay a large portion of their income towards rent. 2. **Target Affordable Neighborhoods Within ZIP 30132**: Not all areas within the ZIP code will have the same rental prices. Investors should look for neighborhoods where the rental prices are closer to the FMR. This could involve analyzing local rental listings and identifying areas where the average rent is lower than the overall ZIP code median. 3. **Consider Long-Term Rental Agreements**: To mitigate the risk of negative cash flow, investors might want to negotiate long-term rental agreements with tenants using Section 8 vouchers. This ensures a steady stream of income and reduces the likelihood of frequent turnover, which can be costly. #### Bottom Line Given the high price-to-FMR ratio and the tight rental market, the recommendation for Section 8-focused investors in ZIP code 30132 is to **Skip**. The gap between FMR and market rents is too wide, making it difficult to achieve positive cash flow while still attracting voucher holders. Instead, investors might want to explore other ZIP codes with a more favorable price-to-FMR ratio and a larger percentage of renters who rely on government assistance.

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.