Location: Jenkins 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 | $750 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,260 | $136,944 | 0.92% | C |
U.S. Census Bureau data (2024)
The Section 8 cap rate analysis for ZIP code 30456 reveals an interesting scenario when comparing federal market rent (FMR) to the actual market rent. For a two-bedroom property, the annualized FMR for FY 2024 is set at $920, while the Census ACS reports a market rent of $667.
To calculate the gross yield, we use the median home value of $114,153. The gross yield based on the FMR is approximately 8.06%, calculated by dividing the annualized FMR ($920) by the median home value ($114,153). Conversely, using the market rent figure, the gross yield drops to about 5.84%. These calculations provide a clear comparison between the potential income streams under each scenario.
The lower gross yield based on market rent reflects the reality that many properties in ZIP 30456 might be rented below the FMR. Given the renter density of 20.2%, it's evident that a significant portion of the population in this area relies on rental housing. However, the lack of data on days on market (DOM) makes it challenging to assess how quickly properties can be leased under either scenario.
In practice, landlords and small-portfolio investors should consider the market rent of $667 as a more realistic benchmark for their gross yield calculations. This is because the FMR is often higher than what tenants can afford, especially those relying on government assistance programs like Section 8. Therefore, while the FMR provides a theoretical upper limit, the actual market conditions suggest a more modest return of around 5.84%.
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.