Location: Athens-Clarke County, GA | Metro: Athens-Clarke County, GA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,350 |
| 1 Bedroom | $1,360 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $1,980 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
The Section 8 market in ZIP code 30638, located in Athens-Clarke County, Georgia, presents a unique opportunity for real estate investors. The Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD) for this area in fiscal year 2024 is $1410. However, due to the lack of specific market rent data, it's challenging to directly compare these figures. Based on the available HUD FMR, voucher tenants will typically cashflow at this rate, but the exact margin depends on individual property expenses such as taxes, insurance, and maintenance.
The median home value in ZIP 30638 is not provided, making it difficult to calculate a precise rent-to-price ratio. This ratio is crucial for understanding the rent versus buy dynamics in the area. Without this data, we cannot accurately assess how rental income compares to potential home purchase prices, which would be useful for investors considering both options.
The average days on market (DOM) and the percentage of homes that have been discounted are also not specified. These metrics can provide insight into the local housing market's health and the ease of finding tenants. For instance, a lower DOM might indicate strong demand for rentals, while a higher percentage of price cuts could suggest a more competitive market where voucher tenants might find it easier to secure housing.
In terms of investment angles, given the consistent cashflow expected from voucher tenants at the FMR rate, the strongest angle for investors in ZIP 30638 is likely stability. The predictability of rental income through the Section 8 program offers a reliable source of cashflow, making it an attractive option for those seeking steady returns over time.
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.