Location: Hart County, GA | Metro: Franklin County, GA
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 | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $189,700 | 0.53% | F |
| 3BR | $1,190 | $269,364 | 0.44% | F |
| 4BR | $1,450 | $395,004 | 0.37% | F |
U.S. Census Bureau data (2024)
To determine if a landlord should buy in ZIP code 30520 (Canon, GA) for Section 8 purposes, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $1,040 cover the debt service on a property valued at $274,164?
No. The FMR of $1,040 is likely insufficient to cover the debt service on a property valued at $274,164. Assuming a typical mortgage rate of around 4%, the monthly payment on a $274,164 loan would be approximately $1,350, which exceeds the FMR.
2) Is the market rent of $860 above, at, or below the FMR?
The market rent of $860 is below the FMR of $1,040. This suggests that properties in this area could potentially be rented out at rates higher than the market average, but still lower than the FMR.
3) Are 23.3% renters plus the unknown days on market (DOM) sufficient to meet demand?
It depends. With 23.3% of the population renting, there is a notable demand for rental properties. However, the lack of data regarding the days on market (DOM) makes it difficult to assess the speed at which properties are being leased. If the DOM is relatively low, indicating quick leasing times, then the demand might be sufficient despite the lower FMR and market rent.
If you answered "no" to the first question, purchasing a property in Canon, GA for Section 8 is not advisable unless you can secure a lower-valued property where the FMR would cover the debt service. If you answered "yes" to the second question, which is not the case here, the property would be competitive in the market and potentially attractive for Section 8 tenants. For the third question, without specific DOM data, the decision hinges on the local market conditions and the landlord's ability to manage a property effectively.
In summary, based on the provided data, the FMR does not sufficiently cover the debt service for a $274,164 property, and the market rent is below the FMR. Therefore, unless other factors such as property value or DOM indicate otherwise, investing in this ZIP code for Section 8 purposes is not recommended.
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.