Location: Atlanta-Sandy Springs-Roswell, GA | Metro: Atlanta-Sandy Springs-Roswell, GA HUD Metro FMR Area
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 | $1,060 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,100 | $183,818 | 0.6% | F |
| 2BR | $1,200 | $203,886 | 0.59% | F |
| 3BR | $1,430 | $240,902 | 0.59% | F |
| 4BR | $1,700 | $348,669 | 0.49% | F |
| 5BR | $1,972 | $433,133 | 0.46% | F |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 30315 reveals a significant gap between the Fair Market Rent (FMR) set at $1380 for fiscal year 2024 and the actual market rent, which stands at $1736 according to ZORI. This discrepancy amounts to a difference of $356 per month, representing approximately 25.7% of the market rent.
In Atlanta, GA, where 56.7% of residents are renters, the median home value is $242,910 and the median income is $50,822. The lower FMR compared to the market rent means that landlords who accept Section 8 vouchers will be renting their properties below the open-market rate. This can result in a net loss over time if maintenance costs and property management expenses are factored into the equation.
The cost of housing voucher tenants below open-market rates is multifaceted. Firstly, it impacts the landlord's immediate cash flow, reducing the monthly rental income by $356. Secondly, it affects the overall yield of the investment property. Given the median home value and income levels in Atlanta, the reduced rental income could mean that the investment does not generate the expected return, especially when considering the opportunity cost of renting at market rates.
Moreover, accepting Section 8 tenants involves additional administrative burdens and potential risks associated with the program. Landlords must comply with HUD standards and undergo regular inspections, which can lead to unexpected expenses and time commitments. The decision to participate in the Section 8 program should weigh these factors against the stability provided by government-backed rent payments.
In conclusion, the $356 monthly gap between the FMR and market rent in ZIP 30315 represents a considerable financial consideration for landlords and small-portfolio investors. It is essential to understand the implications of this gap within the broader context of Atlanta's real estate market and economic conditions.
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.