Section 8 Fair Market Rent (FMR) for ZIP 30606 - 2027

Investment Score for ZIP 30606

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,190
1 Bedroom	$1,190
2 Bedrooms	$1,390
3 Bedrooms	$1,740
4 Bedrooms	$1,830
5 Bedrooms	$2,123
6 Bedrooms	$2,378
7 Bedrooms	$2,568
8 Bedrooms	$2,696

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,390	$248,177	0.56%	F
3BR	$1,740	$350,727	0.5%	F
4BR	$1,830	$467,385	0.39%	F
5BR	$2,123	$752,227	0.28%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 30606 (Athens, GA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 30606 in Athens, Georgia, is set by HUD for 2026 as follows: - 0BR: $1260 - 1BR: $1290 - 2BR: $1450 (which is 27.5% of the median household income) - 3BR: $1890 - 4BR: $1990 These figures represent the maximum rent that a Section 8 voucher holder can pay. However, the actual rental market in Athens, particularly for 2-bedroom units, is significantly higher. According to Zillow, the median price for a 2BR property is $242,743, which translates into a monthly rental cost of approximately $14.0x the FMR. This suggests that the actual rents are around $14,000 per month, far exceeding the FMR limits. This discrepancy means that Section 8 voucher holders face significant constraints in finding affordable housing. The FMR for a 2BR unit is $1450, but the average market rent is likely much higher, making it difficult for voucher holders to find suitable properties within their budget. #### Affordability & Renter Profile ZIP code 30606 has a population of 47,865, with 56.2% of residents being renters. The occupancy rate stands at 94.6%, indicating a very tight rental market. Given the high percentage of renters and the occupancy rate, there is strong demand for rental properties in this area. The median household income in the ZIP code is $63,328. With 2BR units priced at 27.5% of this median income, it suggests that these units are generally affordable for middle-income families. However, the high price-to-FMR ratio of 14.0x indicates that the market rents are well above what is considered fair market value, creating a challenging environment for low-income households who rely on Section 8 vouchers. #### Investor Angle From an investor perspective, the ZIP code 30606 presents both opportunities and challenges. The high occupancy rate and strong demand for rental properties suggest that there could be potential for positive cash flow if the investor can secure properties at or near the FMR levels. However, given the high price-to-FMR ratio, it is likely that most properties will be priced above the FMR, reducing the pool of available tenants who can use Section 8 vouchers. To determine the investment grade, we need to consider the potential for cash flow and the risk associated with the market conditions. If an investor can acquire a 2BR property at or below the FMR of $1450, they would have a tenant pool that includes Section 8 voucher holders. However, the median market price of $242,743 implies that the typical purchase price is significantly higher, leading to higher mortgage payments and operating costs. Given the high market prices, it is unlikely that most properties will generate positive cash flow when rented out at the FMR. Investors should carefully evaluate the acquisition costs and the potential for rental income before making any investment decisions. #### Specific Actionable Insights 1. **Focus on Affordable Properties**: Investors should focus on acquiring properties that are priced at or below the FMR. For example, a 2BR unit priced at $1450 or less would be ideal for attracting Section 8 voucher holders. This requires a keen eye for deals and possibly renovating older properties to bring them up to standard while keeping costs within the FMR range. 2. **Consider Multi-Family Units**: Since the FMR for larger units (3BR and 4BR) is also relatively high, investors might consider multi-family units where the overall cost is spread across multiple units. This could potentially allow for positive cash flow even if individual units are rented out at the FMR. 3. **Engage with Local Real Estate Agents**: To navigate the tight rental market effectively, investors should work closely with local real estate agents who understand the nuances of the Athens rental market. They can provide insights into specific neighborhoods where the market rents are closer to the FMR, helping investors identify more affordable areas. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 30606 is to **Skip**. The high price-to-FMR ratio and the tight rental market make it difficult to find properties that can be rented out at the FMR and still generate positive cash flow. While there is strong demand for rental properties, the challenge lies in securing properties at affordable prices. Investors looking to enter this market should carefully weigh the risks and consider alternative strategies, such as focusing on more affordable neighborhoods or investing in multi-family units where the overall cost can be managed better.

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.