Section 8 Fair Market Rent (FMR) for ZIP 30144 - 2027

Investment Score for ZIP 30144

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	$1,810
1 Bedroom	$1,880
2 Bedrooms	$2,050
3 Bedrooms	$2,440
4 Bedrooms	$2,900
5 Bedrooms	$3,364
6 Bedrooms	$3,768
7 Bedrooms	$4,069
8 Bedrooms	$4,272

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	$2,050	$258,621	0.79%	D
3BR	$2,440	$352,484	0.69%	D
4BR	$2,900	$428,202	0.68%	D
5BR	$3,364	$516,387	0.65%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 30144 (Kennesaw, GA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 30144 in Kennesaw, Georgia, is set by HUD for 2026. The FMRs are as follows: - 0BR: $1930 - 1BR: $2030 - 2BR: $2220 (which is 30.1% of the median household income) - 3BR: $2660 - 4BR: $3180 To understand how these FMRs compare to actual rents, we need to consider the occupancy rate and the renter percentage. With a 94.4% occupancy rate and 40.2% of households being renters, the demand for rental properties is high. However, the FMRs are significantly lower than the actual market rents. For example, the FMR for a 2BR unit is $2220, but the Zillow median price for a 2BR home is $261,467, indicating a price-to-FMR ratio of 9.8x. This suggests that the actual market rents are much higher than the FMRs, which can create significant constraints for Section 8 voucher holders. They might struggle to find units within their budget, especially since landlords often prefer higher-paying tenants. #### Affordability & Renter Profile The median household income in ZIP 30144 is $88,560, and the FMR for a 2BR unit is $2220, which is 30.1% of the median income. This indicates that the FMR is aligned with HUD’s guidelines for affordability, where housing costs should not exceed 30% of a household’s income. However, given the high occupancy rate and the fact that 40.2% of households are renters, it is likely that the rental market is tight. The high price-to-FMR ratio further supports this notion, as it shows that market rents are far above the FMRs. Consequently, this could be a challenging environment for low-income renters, who may face difficulties finding affordable housing options. #### Investor Angle From an investor perspective, the ZIP code 30144 presents a mixed picture. While the FMRs are lower than market rents, they still offer a reasonable opportunity for cash flow. The FMR for a 2BR unit is $2220, which is well below the Zillow median price of $261,467. However, the high price-to-FMR ratio of 9.8x suggests that the market rents are significantly higher than the FMRs. This means that while an investor can potentially achieve positive cash flow at the FMR, they would likely have to compete with higher market rents to attract tenants. The investment grade for this ZIP code depends on the ability to secure long-term leases and manage the property effectively. Given the high occupancy rate, there is a strong demand for rental units, which can be beneficial for investors. However, the challenge lies in balancing the FMR with the actual market conditions to ensure profitability. #### Specific Actionable Insights 1. **Focus on Units Below FMR**: Investors should look for opportunities to acquire properties that are priced below the FMR. For instance, a 2BR unit priced at $2220 or slightly above would be attractive to Section 8 voucher holders. This strategy can help secure long-term, stable tenancy and avoid the volatility associated with market-rate rentals. 2. **Consider Smaller Units**: Given the high price-to-FMR ratio, smaller units like 0BR or 1BR might be more manageable for Section 8 voucher holders. The FMR for a 0BR unit is $1930, and for a 1BR unit, it is $2030. These lower FMRs could make it easier for voucher holders to find suitable housing, thereby increasing the likelihood of securing tenants. 3. **Evaluate Property Management Costs**: Due to the tight rental market and the potential challenges in attracting tenants at FMR, investors should carefully evaluate the cost of property management. High management fees could erode the already thin profit margins at FMR levels. Therefore, choosing a cost-effective property management solution is crucial. #### Bottom Line For Section 8-focused investors, ZIP code 30144 presents a challenging but potentially rewarding market. The high occupancy rate and significant number of renters indicate strong demand, but the high price-to-FMR ratio suggests that finding properties within the FMR range will be difficult. Therefore, the recommendation is to **Hold** on to existing investments if they are already profitable, but **Skip** new acquisitions unless they can be secured at or below the FMR. If an investor can find properties priced at or below the FMR, then **Buy** could be considered, particularly for smaller units like 0BR or 1BR, which are more affordable for voucher holders. This analysis is based solely on the provided data and does not account for other factors such as local economic trends or changes in government policy that could impact the rental market.

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.