Location: Gordon County, GA | Metro: Chattanooga, TN-GA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The analysis for ZIP code 30746, located in Sugar Valley, Georgia, reveals a critical gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the area is set at $1210 for fiscal year 2024, while the Census ACS data indicates a market rent of $1130. This represents a gap of $80, or approximately 7%.
The FMR, established by HUD, is higher than the current market rent. This means that landlords accepting Section 8 voucher tenants could potentially earn a higher yield compared to renting to open-market tenants. The higher FMR ensures that voucher holders can secure housing at a rate that is above the average market rent, making it financially viable for landlords to participate in the program.
In ZIP 30746, only 10.2% of residents are renters, indicating a primarily owner-occupied community. The median home value stands at $302,898, and the median income is $81,696. These figures suggest that the local economy supports a relatively stable housing market, but the presence of Section 8 vouchers can provide additional opportunities for landlords to increase their rental income.
Given the specifics of the ZIP code, landlords who accept Section 8 tenants are positioned to benefit from the discrepancy between FMR and market rent. However, it's important to note that the decision to participate in the Section 8 program should also consider factors such as administrative requirements and the potential for longer-term tenancy agreements.
Data Sources: FMR data from HUD (2027). 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.