Location: Tattnall County, GA | Metro: Bulloch County, GA
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 | $760 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,290 | $190,357 | 0.68% | D |
| 4BR | $1,470 | $355,860 | 0.41% | F |
U.S. Census Bureau data (2024)
The analysis of the Section 8 cap-rate scenario for ZIP code 30417 reveals a stark contrast between government-subsidized rental income and market-driven rental rates. Using the annualized Fair Market Rent (FMR) for a two-bedroom apartment at $1,020, as set by the government for fiscal year 2026, and the market rent of $720 per month, derived from the Census ACS data, we can calculate the gross yield for each situation.
First, let's consider the Section 8 scenario. With an annual rent of $12,240 ($1,020 x 12 months), the implied gross yield for a median home value of $183,016 is approximately 6.69%. This figure is calculated by dividing the annual rental income by the property value. In other words, if you were to lease out your property under Section 8 guidelines, you would expect to generate a gross yield of about 6.69% annually.
Now, turning to the market rent scenario, the annual rent comes to $8,640 ($720 x 12 months). The implied gross yield here is significantly lower, at around 4.72%, when compared to the median home value. This calculation shows that market rents in ZIP 30417 are roughly 60% of the government-set FMR, leading to a lower gross yield for investors.
Given the renter density of 33.5% in ZIP 30417, it is important to note that the availability of tenants willing to pay market rates might be limited. However, the lack of data on days on market (DOM) makes it difficult to assess how quickly properties can be rented out at either rate. Despite this uncertainty, the higher gross yield offered by Section 8 contracts is more likely to attract investors, especially those looking for stable, long-term rental income.
While market rents offer a lower gross yield, they do provide flexibility in terms of tenant selection and potential for rent increases over time. However, the current market conditions suggest that Section 8 contracts could be a safer bet for achieving a higher return on investment. The decision ultimately depends on the landlord's risk tolerance and investment goals.
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.