Location: Jefferson County, GA | Metro: Augusta-Richmond County, GA-SC 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 | $780 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,200 | $160,181 | 0.75% | D |
U.S. Census Bureau data (2024)
A skeptical investor looking into ZIP code 30434 might raise several concerns regarding the feasibility of investing in properties here, particularly those participating in the Section 8 program. Let's address these objections head-on using available data.
Will FMR $920 (zip FY 2024) cover the mortgage on a $117,738 home?
The Fair Market Rent (FMR) for ZIP 30434 is set at $920 for the fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit. To determine if this covers the mortgage, we need to consider the average mortgage rate and term length. Assuming an average fixed-rate mortgage of 4.5% over a 30-year period, the monthly payment on a $117,738 home would be approximately $575. Therefore, the FMR of $920 comfortably exceeds the mortgage payment, leaving room for maintenance, taxes, and profit.
Is there enough renter demand at 31.1%?
The percentage of renters in ZIP 30434 stands at 31.1%. While this figure is lower than some areas with higher concentrations of renters, it still indicates a significant portion of the population relies on rental housing. The demand for rental properties, especially affordable ones, remains consistent. However, the data does not provide a complete picture of the specific demand for Section 8 properties. To fully assess this, one would need to look at local rental vacancy rates and the number of families currently enrolled in the Section 8 program.
Will vouchers keep pace with $724 market rents?
The current market rent for ZIP 30434 is reported at $724. Given that the FMR is set higher at $920, it suggests that the voucher amounts are designed to meet or exceed the typical market rent. However, the actual performance of vouchers in keeping pace with market rents depends on the timely adjustment of voucher amounts to reflect inflation and changes in the cost of living. The data provided does not specify historical trends in voucher adjustments relative to market rents, which would be necessary to make a definitive assessment.
In summary, while the FMR of $920 appears sufficient to cover the mortgage on a $117,738 home, and there is a notable demand for rental properties, the specific dynamics of Section 8 voucher adjustments and their alignment with market rents require further investigation beyond the provided data.
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.