Location: Greene County, GA | Metro: Athens-Clarke County, 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 | $1,380 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,620 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,150 |
| 5 Bedrooms | $2,494 |
| 6 Bedrooms | $2,793 |
| 7 Bedrooms | $3,016 |
| 8 Bedrooms | $3,167 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,620 | $331,580 | 0.49% | F |
| 3BR | $2,030 | $417,207 | 0.49% | F |
| 4BR | $2,150 | $579,966 | 0.37% | F |
| 5BR | $2,494 | $734,808 | 0.34% | F |
U.S. Census Bureau data (2024)
ZIP 30677, located in Watkinsville, GA within the Greene County, GA metro area, presents a unique opportunity for inclusion in a Section 8 portfolio strategy. This ZIP code is best suited as a cash-flow anchor. The fundamental reason for this classification lies in the significant spread between the Fair Market Rent (FMR) for ZIP 30677 and the local market rental rates.
The FMR for a one-bedroom apartment in ZIP 30677 for fiscal year 2024 is set at $1,390. In contrast, the current market rental rate for a similar unit is $2,121. This $731 difference represents a substantial cushion that landlords can rely on to ensure stable cash flow even if there are any delays or issues with Section 8 vouchers. The higher market rates provide a buffer against potential financial risks associated with government programs.
Additionally, the median home value in ZIP 30677 is $514,151, indicating a relatively affluent neighborhood. Despite this, the median income is $110,250, suggesting that while homeownership is feasible, a significant portion of residents still opt for renting. This dynamic supports the viability of the rental market and ensures a steady demand for properties that can be rented under Section 8.
The 15.5% renter share in ZIP 30677 also points towards a diversified tenant base. However, the primary focus should be on the cash-flow stability provided by the high market rental rates compared to the FMR. While the ZIP code's 0.2% price-cut share and N/A-day days on market (DOM) suggest a competitive but stable rental market, the most compelling argument for including this ZIP in a Section 8 portfolio is the guaranteed minimum rent through the FMR, coupled with the potential for higher market rents when the property is occupied by non-Section 8 tenants.
In summary, ZIP 30677 acts as a cash-flow anchor due to the favorable spread between the FMR and market rental rates, ensuring landlords receive a reliable income stream regardless of voucher-related challenges. This strategic placement within a portfolio provides both security and the potential for enhanced returns.
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.