Section 8 Fair Market Rent (FMR) for ZIP 30502 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 30502, located within the Gainesville, GA MSA metro area, has a Fair Market Rent (FMR) of $1390 for fiscal year 2024. To contextualize this figure, we need to compare it with the typical FMRs found in other ZIP codes within the Gainesville, GA MSA.

Unfortunately, the specific market rent and home value data for ZIP 30502 are not available. However, we can infer some details based on the FMR alone. The FMR serves as an indicator of the affordability of housing units in the area, particularly for those who rely on government assistance programs such as Section 8.

In the Gainesville, GA MSA, the average FMR tends to be around $1200 to $1400. This range places ZIP 30502 squarely within the mid-tier neighborhood category. Its FMR of $1390 suggests that while it is not at the lower end of the spectrum, making it less likely to be a value pocket, it also does not exceed the upper bounds significantly, indicating it is not a premium sub-market.

The lack of specific data on market rent and home values means we cannot definitively state how these compare to the broader metro area. However, given the FMR, we can infer that market rents and home values are likely to be similar to the mid-range levels seen across the Gainesville, GA MSA.

Additionally, the renter share percentage is not available, which is crucial for determining if there's a high concentration of potential Section 8 tenants. Typically, a high renter share coupled with below-average home values might indicate a sweet spot for Section 8 properties. Since this information is missing, we cannot make a definitive statement about the attractiveness of 30502 for Section 8 investments based on renter share alone.

For landlords and small-portfolio investors looking to understand the real estate dynamics in ZIP 30502, the FMR provides a solid baseline. It suggests that properties here are moderately priced within the context of the Gainesville, GA MSA, offering a balanced opportunity for investment without the risks associated with either extremely low or high-priced markets.

To make more precise comparisons and conclusions, further data on market rents, home values, and renter shares would be necessary. These metrics would help in identifying any divergences that could signal unique opportunities or challenges within the ZIP code.

Data Sources: FMR data from HUD (2027).

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.