Location: Toombs County, GA | Metro: Montgomery County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The ZIP code 30473 presents an interesting scenario for both renters and landlords alike. The median income in this area stands at $49,565, while the market rate for rent is $737 according to the latest Census American Community Survey (ACS) data. This means that a significant portion of the local households would struggle to meet the market rate without assistance, given the average earnings.
When comparing the market rate to the Fair Market Rent (FMR) standards set for the metro area in fiscal year 2026, which is $970, it becomes evident that the market rate is below the voucher payment standard. However, this does not necessarily translate into higher demand for rental properties that accept vouchers. Instead, it highlights a potential affordability gap for cash-paying tenants who might find it challenging to cover the $737 monthly rent on their own.
With only 13.4% of the 2,415 population being renters, the competition among landlords is relatively low. This suggests that there is room for growth in the rental market if more housing units become available. However, the challenge lies in attracting tenants who can consistently pay the market rate without relying on subsidies.
The takeaway for landlords considering voucher versus cash-pay strategies in ZIP 30473 is clear: while accepting vouchers ensures a steady stream of income at rates above the market average, focusing solely on cash-paying tenants may limit the pool of potential renters due to the income-to-rent ratio. Landlords should consider a balanced approach, perhaps offering a mix of units that cater to both voucher recipients and those who can afford to pay market rates out-of-pocket. This strategy will help ensure a stable occupancy rate and income stream.
Data Sources: FMR data from HUD (2027). 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.