Location: Gainesville, GA | Metro: Gainesville, GA MSA
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 | $1,220 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,290 |
| 5 Bedrooms | $2,656 |
| 6 Bedrooms | $2,975 |
| 7 Bedrooms | $3,213 |
| 8 Bedrooms | $3,374 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,590 | $255,084 | 0.62% | D |
| 3BR | $1,920 | $315,820 | 0.61% | D |
| 4BR | $2,290 | $381,095 | 0.6% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 30566, Oakwood, GA, in Hall County, revolve around the SAFMR (Small Area Fair Market Rent) which is specifically tailored for this ZIP code. For a two-bedroom apartment, the SAFMR for FY 2024 is set at $1,460. This figure represents the maximum amount that the Housing Choice Voucher program will pay towards the rent for a unit of this size in this particular ZIP code.
Comparatively, the local market rent for a similar two-bedroom unit, as indicated by ZORI (Zillow Observed Rent Index), stands at $1,613. This suggests that landlords might face a slight discrepancy between the market rent and what the voucher program covers.
A voucher payment is calculated based on several factors, including the tenant's portion of the rent and any utility allowances. Typically, the tenant contributes approximately 30% of their income toward rent. If we assume an average income for a tenant eligible for Section 8, this would mean the tenant pays around $438, leaving the remaining amount to be covered by the voucher.
The utility allowance varies but is usually around $300 per month for a two-bedroom apartment. Therefore, the total reimbursement a landlord can expect from the voucher program, combining the tenant's contribution and the utility allowance, would be roughly $1,768. However, this exceeds the SAFMR cap of $1,460, meaning the actual reimbursement cannot exceed this limit.
To illustrate, if a tenant's share is $438 and the utility allowance is $300, the voucher program will cover the remainder up to the SAFMR cap. In this case, the landlord would receive $1,460 from the voucher program, which is less than the local market rent of $1,613. This leaves a shortfall of $153 per month for landlords renting out a two-bedroom unit at market rates.
This economic reality means landlords must decide whether to accept a lower rental income compared to market rates or to seek alternative tenants who can afford the full market rent. The choice often depends on the landlord's financial situation, the condition of the property, and the overall demand for rental units in the area.
In summary, landlords in ZIP 30566 should anticipate a reimbursement of $1,460 for a two-bedroom apartment under the Section 8 program, resulting in a typical reimbursement gap of $153 when compared to the local market rent of $1,613.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.