Section 8 Fair Market Rent (FMR) for ZIP 30140 - 2027

FY 2027 Fair Market Rent Rates

To understand the economics of Section 8 in ZIP code 30140, which falls under Haralson County, Georgia, it's crucial to know the specifics of the housing assistance payment (HAP) process. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $1060 for fiscal year 2024. This SAFMR figure is specifically tailored for this ZIP code, meaning it reflects the rental market conditions here and not a broader regional average.

The local market rent for a two-bedroom unit in ZIP 30140 is currently unavailable, which can make it challenging to compare the SAFMR with actual market rates. However, the SAFMR serves as a benchmark for the maximum amount that the Housing Choice Voucher program will pay on behalf of a tenant. It's important to note that this does not necessarily equate to the total rent you might charge.

A Section 8 voucher covers a portion of the rent based on the SAFMR, but the actual reimbursement to landlords involves several factors. The voucher holder is typically required to pay 30% of their adjusted income towards the rent. If the tenant's share is less than the utility allowance, the difference is added to the rent subsidy. For instance, if a tenant has an adjusted income of $1000 per month, they would be expected to contribute $300 towards the rent. If the utility allowance is $150, and the tenant’s share is less than this, the additional $150 would be included in the subsidy.

The typical reimbursement process works as follows:

• The tenant pays their portion, usually 30% of their income.
• The government pays the remaining portion up to the SAFMR limit, including any utility allowances.

In ZIP 30140, with a SAFMR of $1060, the landlord should expect the government to cover the rest of the rent beyond the tenant's contribution, up to this limit. For example, if the tenant contributes $300, the government would cover the remaining $760. If the total rent exceeds $1060, the landlord must absorb the difference.

The reimbursement gap or surplus depends on the actual rent charged versus the SAFMR. If you charge exactly $1060, there would be no gap or surplus. If you charge more, say $1200, the gap would be $140 per month, which you'd have to cover. Conversely, if you charge less, say $900, you would receive the full $900 from the voucher program, resulting in no surplus.

Landlords in ZIP 30140 should aim to set their rents close to the SAFMR to minimize financial risk and ensure steady income. Given the SAFMR of $1060, the typical reimbursement gap or surplus will depend on your rental pricing strategy relative to this benchmark.

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.