Section 8 Fair Market Rent (FMR) for ZIP 30271 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 in ZIP code 30271, located in Atlanta-Sandy Springs-Roswell County, Georgia, hinge on understanding the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1730 for fiscal year 2024. This SAFMR is specifically tailored for this ZIP code, reflecting the unique housing costs within it.

A landlord participating in the Section 8 program should be aware that the total rent for a two-bedroom unit is not entirely covered by the voucher. Tenants are required to contribute a portion of their income towards rent, typically around 30% of their adjusted monthly income. For instance, if a tenant's adjusted monthly income is $1500, they would pay approximately $450 towards rent. This amount varies based on the tenant's income level but cannot exceed 40% of their income under any circumstances.

In addition to the tenant's contribution, there are utility allowances that can be factored into the overall payment. These allowances vary depending on the type of utilities used in the property and the average costs in the area. However, since the local market rent is listed as N/A, we will focus on the SAFMR to illustrate the typical scenario.

To calculate the reimbursement a landlord receives, subtract the tenant's portion from the SAFMR. Using the example above where the tenant pays $450, the remaining amount is $1280. This figure represents the maximum amount the housing authority will pay toward the rent for a two-bedroom apartment in ZIP 30271. If the SAFMR does not cover the full rent, the landlord must either reduce the rent to match the SAFMR or accept the difference as the reimbursement gap.

For landlords in ZIP 30271, the typical reimbursement gap for a two-bedroom apartment would be the difference between the actual market rent and the $1730 SAFMR. Since the local market rent is currently unavailable, it's crucial to monitor market conditions and adjust accordingly to avoid financial losses. In cases where the market rent is lower than the SAFMR, landlords might experience a surplus, meaning they receive more than the standard market rate.

In summary, landlords in ZIP 30271 should expect a Section 8 voucher to cover up to $1730 for a two-bedroom apartment, with the tenant paying a portion of their income and utility allowances included. The reimbursement gap or surplus will depend on the actual market rents compared to the SAFMR.

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.