Location: Polk County, GA | Metro: Rome, GA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,710 | $255,461 | 0.67% | D |
| 4BR | $1,720 | $325,786 | 0.53% | F |
| 5BR | $1,995 | $201,504 | 0.99% | C |
U.S. Census Bureau data (2024)
A skeptical investor considering ZIP 30173 might question whether the Fair Market Rent (FMR) of $1,100 for the fiscal year 2024 will sufficiently cover the mortgage on a home priced at $245,002. While the FMR does not directly correlate with mortgage payments, it is a key indicator of what tenants can afford. To determine if the FMR covers the mortgage, one must calculate the monthly payment based on current interest rates and loan terms. However, the data does not provide interest rate or loan term specifics.
The investor could also doubt the viability of rental demand in ZIP 30173, given that only 19.0% of the housing stock is occupied by renters. This percentage suggests a relatively low demand for rental properties compared to owner-occupied homes. Yet, the 19.0% figure represents a significant number of potential tenants. The actual size of the rental market depends on factors such as population growth, job availability, and the number of units available for rent. The data does not offer these details, but it's worth noting that even a small percentage of a large housing stock can translate into substantial rental opportunities.
A further concern might be whether Housing Choice Vouchers will keep up with the market rents, which stand at $1,103. The voucher program aims to help low-income families pay for housing, but the amount issued can lag behind market conditions. According to the data, the voucher amount in ZIP 30173 is close to the market rent, indicating a reasonable alignment. However, the data does not specify how often voucher amounts are adjusted or if they will continue to match the rising market rents. Investors should monitor local housing authority announcements and trends in the cost of living to ensure that future voucher adjustments support their investment strategy.
In summary, while the data provides a snapshot of the rental landscape in ZIP 30173, addressing concerns requires deeper analysis of mortgage costs, demographic trends, and the dynamics of the voucher system. The FMR of $1,100 is a starting point for setting competitive rental prices, the 19.0% rental occupancy rate suggests a niche but present market, and the proximity of voucher amounts to market rents indicates potential stability. Nonetheless, investors should remain vigilant and adapt to changes in the local economy and housing 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.