Location: Meriwether County, GA | Metro: Meriwether County, GA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
28.3% of residents in ZIP code 30222, Greenville, GA, are renters, indicating a significant portion of the population that could be interested in affordable housing options. The Fair Market Rent (FMR) for the area, set at $890 for zip FY 2024, represents the threshold above which units are considered unaffordable for low-income families under the Section 8 program. In comparison, the actual market rent, according to the Census ACS, stands at $874, suggesting that rental properties just below the FMR could attract both market-rate tenants and those eligible for Section 8 subsidies. The median home value in Greenville is $215,306, providing a benchmark for property values in the area. However, the median income of $64,151 suggests that many residents might struggle to afford market rates without assistance.
Despite the lack of specific data on days on market (DOM) and the percentage of price-cut share, the disparity between the FMR and market rent indicates potential opportunities for landlords who can offer units at or slightly above the $874 mark. This strategy could cater to a broader audience, including those seeking affordable housing and those willing to pay a premium. Given the high renter share and the relatively close alignment between FMR and market rent, landlords in Greenville should consider participating in the Section 8 program to ensure steady occupancy and a reliable tenant base.
The verdict for Section 8 participation in Greenville, GA, is positive, with the potential for stable returns and occupancy rates in a market where affordability is a key concern for 28.3% of the population.
Data Sources: FMR data from HUD (2027). 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.