Location: Morgan County, GA | Metro: Atlanta-Sandy Springs-Roswell, GA HUD Metro FMR Area
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 | $1,060 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,440 | $430,937 | 0.33% | F |
| 4BR | $1,710 | $504,147 | 0.34% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 30641, located in Cobb County, Georgia, are influenced by the Specific Area Fair Market Rent (SAFMR) and the local rental market dynamics. For a two-bedroom apartment, the SAFMR for FY 2024 is set at $1550. This figure represents the maximum amount that the housing authority will pay on behalf of a tenant using a Section 8 voucher. However, it's important to understand how this payment is structured.
The local market rent for a two-bedroom unit, according to the Census American Community Survey (ACS), is $1,130. This lower market rent can be advantageous for landlords, as it means that the voucher payment is likely to cover a larger portion of the total rent. When a tenant uses a Section 8 voucher, they are required to contribute 30% of their adjusted income towards the rent. The remainder, up to the SAFMR of $1550, is then covered by the housing authority.
To illustrate, if a tenant's adjusted income is $1,000 per month, they would contribute $300 towards the rent. The housing authority would then pay the difference between the tenant's contribution and the SAFMR, which in this case would be $1,250. Therefore, the landlord would receive a total of $1,550 for the two-bedroom unit, assuming the tenant's contribution plus the housing authority's reimbursement does not exceed the SAFMR.
In addition to the base rent, there are utility allowances that must be considered. These allowances vary based on the size of the unit and the location but generally aim to cover a reasonable cost of utilities. For a two-bedroom unit, the utility allowance might be around $300, though this can fluctuate. Landlords should ensure that the total rent plus utilities does not exceed the combined SAFMR and utility allowance limits.
Given the local market rent of $1,130, the typical reimbursement gap or surplus for a two-bedroom unit in ZIP 30641 is a surplus. Landlords can expect to receive a higher payment than the average market rent, ensuring a steady and reliable income stream. Specifically, the surplus would be approximately $420 per month ($1550 - $1130), which covers not only the rent but also helps to offset some of the costs associated with maintaining and managing the property.
Understanding these economic principles allows landlords to make informed decisions about participating in the Section 8 program. It ensures that the financial arrangements are clear and that landlords can benefit from the stability provided by government-backed rental payments.
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.