Section 8 Fair Market Rent (FMR) for ZIP 30516 - 2027
Location: Hart County, GA | Metro: Franklin County, GA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $930 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$77,818
Housing Authorities Serving ZIP 30516
To determine if a landlord should invest in ZIP code 30516 (Bowersville, GA) for Section 8 properties, follow these steps:
- Does the Fair Market Rent (FMR) of $1,060 cover the debt service on a property valued at $265,777?
- Yes: The FMR of $1,060 can potentially clear the debt service on a $265,777 property, assuming the debt service does not exceed this amount. This is a positive indicator for investment.
- No: If the debt service exceeds $1,060 per month, then the FMR will not be sufficient to cover the costs associated with owning the property. In this case, investing in Bowersville for Section 8 purposes would not be advisable.
- Is the market rent of $1,133 (Census ACS) above, at, or below the FMR?
- Above: The market rent of $1,133 is higher than the FMR of $1,060, indicating that there might be additional opportunities for non-Section 8 tenants who can pay more. This could provide some flexibility and potential for higher returns.
- At: If market rents were exactly at the FMR, it would suggest that the rental market is tightly aligned with the Section 8 rates. However, since the market rent is above the FMR, this scenario does not apply.
- Below: This scenario does not apply as the market rent is above the FMR. If it were below, it would indicate that landlords might struggle to find tenants willing to pay the FMR, which could affect the viability of Section 8 investments.
- Are 19.0% renters and the day DOM (Days on Market) enough demand for a Section 8 property?
- It depends: With 19.0% of the population renting, there is a moderate level of demand for rental properties. However, the lack of data on the average days on market (DOM) makes it difficult to assess how quickly properties are typically rented out. A high DOM might indicate slower demand, while a low DOM suggests strong demand. Without this information, the decision hinges on other factors such as local competition and economic stability.
The analysis of ZIP 30516 shows that the FMR is close to covering the debt service, and the market rent is slightly above the FMR, providing some margin for non-Section 8 tenants. However, the percentage of renters alone does not fully capture the rental market dynamics without knowing the DOM. Landlords should consider these points and seek additional local market insights before making an investment decision.
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.