Section 8 Fair Market Rent (FMR) for ZIP 30228 - 2027

Investment Score for ZIP 30228

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	$1,530
1 Bedroom	$1,590
2 Bedrooms	$1,730
3 Bedrooms	$2,060
4 Bedrooms	$2,450
5 Bedrooms	$2,842
6 Bedrooms	$3,183
7 Bedrooms	$3,438
8 Bedrooms	$3,610

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	$1,730	$202,656	0.85%	C
3BR	$2,060	$255,637	0.81%	C
4BR	$2,450	$316,044	0.78%	D
5BR	$2,842	$378,508	0.75%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 30228 (Hampton, GA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 30228 is set by HUD for 2026 as follows: - 0BR: $1590 - 1BR: $1660 - 2BR: $1820 (which represents 26.4% of the median household income) - 3BR: $2180 - 4BR: $2610 These figures represent the maximum rent that a Section 8 voucher holder can pay based on the size of the unit. However, it is important to understand how these FMRs compare to actual rental rates in the area. The Zillow median price for a 2BR property in ZIP 30228 is $197,747, which translates to a monthly mortgage payment of approximately $1,098, assuming a 30-year fixed-rate mortgage at 5%. This suggests that the actual rental rates are likely higher than the FMRs, given that landlords would need to cover their mortgage payments, maintenance costs, and other expenses. Given the occupancy rate of 93.5%, there is a strong demand for housing in Hampton, GA. However, the high price-to-FMR ratio of 9.1x indicates that actual rental prices are significantly above the FMRs. For instance, a 2BR unit with a Zillow median price of $197,747 would likely rent for around $1,098 per month plus additional costs such as property taxes, insurance, and maintenance. This means that even if the landlord charges the FMR of $1820, the difference between the actual rental cost and the FMR could be substantial, potentially making it difficult for voucher holders to find affordable units. #### Affordability & Renter Profile In ZIP code 30228, 27.9% of the population are renters, indicating a significant portion of the community relies on rental housing. With a median household income of $82,619, the majority of residents can afford market-rate rentals. However, the 26.4% of median income required for a 2BR unit under the FMR suggests that those who qualify for Section 8 vouchers might struggle to find suitable housing due to the high actual rental prices. The tight market conditions, with a 93.5% occupancy rate, indicate that there is little excess supply of rental units. This makes it challenging for voucher holders to secure housing, as landlords may prefer higher-paying tenants who do not require vouchers. Additionally, the high price-to-FMR ratio implies that many properties are priced well above the FMR, further limiting the options for voucher holders. #### Investor Angle From an investor's perspective, the ZIP code 30228 offers a potentially lucrative opportunity due to the high demand for rental housing. However, the key question is whether investing in properties for Section 8 tenants would be financially viable. The FMR for a 2BR unit is $1820, but the actual rental prices are much higher, with a median price of $197,747 translating to a monthly mortgage payment of about $1,098. Assuming a conservative estimate of $100 for property taxes, $50 for insurance, and $100 for maintenance, the total monthly expenses for a 2BR unit would be around $1,348. Therefore, charging the FMR of $1820 would provide a positive cash flow of approximately $472 per month. This suggests that investing in properties for Section 8 tenants could be financially viable, especially if the investor can manage costs effectively. However, the investment grade would depend on factors such as the stability of the tenant pool, the administrative burden of managing Section 8 properties, and the potential for rent increases over time. Given the high occupancy rate and strong demand, the risk of vacancy is relatively low, which is a positive factor for investors. #### Specific Actionable Insights 1. **Focus on 2BR Units**: Given the high demand and the fact that a 2BR unit at the FMR of $1820 provides a positive cash flow of about $472 per month, investors should consider focusing on acquiring 2BR properties. These units are most likely to be occupied by Section 8 voucher holders, who make up a significant portion of the rental market. 2. **Negotiate with Landlords**: Since the actual rental prices are much higher than the FMRs, voucher holders often face challenges in finding affordable units. Investors could negotiate with landlords to offer slightly below-market rates to attract Section 8 tenants. For example, offering a 2BR unit at $1,900 instead of the full market rate could still yield a positive cash flow while being more accessible to voucher holders. 3. **Consider Property Location**: Given the high price-to-FMR ratio, investors should carefully consider the location of the properties they acquire. Properties located in areas with lower actual rental prices or closer to public transportation could be more attractive to voucher holders and thus have a higher likelihood of being occupied. #### Bottom Line Based on the analysis, ZIP code 30228 presents a mixed picture for Section 8-focused investors. While the high demand and occupancy rate suggest a stable rental market, the significant gap between actual rental prices and FMRs poses challenges for voucher holders. Nonetheless, the positive cash flow potential for 2BR units and the possibility of negotiating slightly below-market rates make this ZIP code a viable option for investors. **Recommendation**: **Buy**. Investors should focus on acquiring 2BR units and consider negotiating rental rates to ensure occupancy by Section 8 voucher holders. This strategy can help mitigate the risks associated with the high price-to-FMR ratio and capitalize on the strong rental market dynamics.

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.