Section 8 Fair Market Rent (FMR) for ZIP 30514 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 housing in ZIP code 30514, located in Union County, Georgia, operate under specific guidelines that directly impact landlords and small-portfolio investors. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $980 for fiscal year 2026. This figure is crucial because it represents the maximum amount that the Section 8 program will pay towards a tenant's rent.

A voucher payment is structured to cover most of the tenant's rent, but not all. Specifically, the voucher pays the difference between the SAFMR and the tenant's portion, which is typically 30% of their income. For instance, if a tenant's income is $1,000 per month, their portion would be $300. Therefore, the voucher would cover the remaining $680 of the $980 SAFMR, making the total rent $980.

In addition to the base rent, there are utility allowances that must be considered. These allowances vary depending on the type of utilities used (electricity, gas, water, etc.) and the number of bedrooms in the unit. However, the exact utility allowance for ZIP 30514 is not provided here. It’s important to note that the utility allowance is also capped, and the total rent plus utilities cannot exceed the SAFMR of $980.

The SAFMR being set specifically for this ZIP code means that it reflects the local rental market conditions more accurately than a broader metro or county-wide rate might. This specificity helps ensure that the rates are appropriate for the area and can attract a fair share of landlords willing to participate in the program.

Given the lack of specific local market rent data, it’s difficult to provide an exact surplus or shortfall for a two-bedroom unit. However, if we assume the local market rent is higher than the SAFMR, landlords could face a shortfall. Conversely, if the local market rent is lower, landlords would benefit from a surplus. To illustrate, if the local market rent for a similar two-bedroom unit was $1,100, then the landlord would receive only $980 from the voucher program, resulting in a shortfall of $120 per month.

To conclude, landlords in ZIP 30514 should be aware that the SAFMR of $980 for a two-bedroom unit sets the upper limit for what they can expect from the Section 8 program. They need to factor in the tenant's portion of rent and any utility allowances when deciding whether to accept vouchers. The actual financial outcome depends on the local market rent; if it exceeds the SAFMR, landlords will experience a reimbursement gap, otherwise, they may see a surplus.

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.