Location: Greene County, GA | Metro: Morgan County, 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 | $1,140 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $2,180 |
| 5 Bedrooms | $2,529 |
| 6 Bedrooms | $2,832 |
| 7 Bedrooms | $3,059 |
| 8 Bedrooms | $3,212 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,300 | $342,425 | 0.38% | F |
| 3BR | $1,560 | $563,452 | 0.28% | F |
| 4BR | $2,180 | $1,079,031 | 0.2% | F |
| 5BR | $2,529 | $2,177,153 | 0.12% | F |
U.S. Census Bureau data (2024)
The ZIP code 30642 is situated in the affluent suburb of Greensboro, Georgia, which boasts a total population of 15,343 residents. This neighborhood is characterized by a relatively low rental rate, with only 20.3% of the population being renters. The median household income in this area stands at a robust $95,527, indicating a high standard of living. Furthermore, the median home value is notably high at $720,733, reflecting the upscale nature of the housing market.
When it comes to the economic viability of renting in ZIP 30642, the Federal Market Rent (FMR) for the fiscal year 2024 is set at $1,320. However, the actual market rent, as per the latest Census ACS data, is significantly lower at $997. This discrepancy highlights a potential opportunity for investors who can navigate the complexities of the Section 8 program, as they could potentially underwrite rents closer to the FMR while still offering a competitive rate to tenants.
The question then arises whether this area suits a hands-off voucher operator or a hands-on value-add buyer. Given the high median income and home values, a hands-on approach might be more rewarding. Investors could focus on adding value through property improvements, leveraging the strong local economy to command higher rents and attract tenants willing to pay above the market rate. Conversely, for those interested in a hands-off strategy, the existing disparity between the FMR and market rent provides a margin for profit without the need for extensive property management efforts. However, the success of either strategy hinges on understanding the local rental market dynamics and the specific requirements of the Section 8 program.
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.