Section 8 Fair Market Rent (FMR) for ZIP 30809 - 2027

Investment Score for ZIP 30809

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,490
1 Bedroom	$1,800
2 Bedrooms	$1,990
3 Bedrooms	$2,500
4 Bedrooms	$3,050
5 Bedrooms	$3,538
6 Bedrooms	$3,963
7 Bedrooms	$4,280
8 Bedrooms	$4,494

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,990	$192,565	1.03%	B
3BR	$2,500	$306,903	0.81%	C
4BR	$3,050	$405,142	0.75%	D
5BR	$3,538	$528,205	0.67%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 30809 (Evans, GA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 30809 is set by HUD for 2026. For a two-bedroom unit, the FMR is $1890. This amount represents 18.1% of the median household income of $125,272, indicating that it is relatively affordable for the average resident. However, the actual rent for a two-bedroom unit in Evans, GA, is likely higher due to the price-to-FMR ratio of 8.5x, which suggests that the typical market rent for a two-bedroom unit is around $16,065 annually ($1890 * 8.5). This significant difference between FMR and market rent means that tenants using Section 8 vouchers will face considerable constraints in finding suitable housing. The voucher amount may only cover a small portion of the actual rent, leading to a potential shortage of available units for voucher holders. #### Affordability & Renter Profile ZIP code 30809 has a population of 54,743, with 14.8% of residents being renters. The occupancy rate is 90.8%, suggesting a fairly tight rental market where most units are occupied. Given the high median household income of $125,272, the area attracts a diverse mix of residents, including young professionals, families, and retirees. However, the median Zillow price for a two-bedroom home is $192,075, which is quite high compared to the FMR. This indicates that the area is generally expensive, making it challenging for lower-income renters to find affordable housing without assistance. The high price-to-FMR ratio further supports this conclusion, as it shows that the market rents are significantly above the FMR levels. #### Investor Angle From an investor perspective, the ZIP code 30809 presents both opportunities and challenges. The FMR for a two-bedroom unit is $1890, but the actual market rent is much higher at approximately $16,065 annually. This means that properties rented at FMR levels would likely generate negative cash flow for landlords, as they would be receiving less than the market rate. However, if investors can secure properties below the market value and rent them out at FMR rates, there could still be a viable business model, especially considering the demand for affordable housing among voucher holders. The investment grade in this ZIP code is moderate to low, given the high cost of living and the limited number of voucher holders relative to the total population. Investors should carefully consider the local market dynamics and the availability of Section 8 vouchers before making any decisions. Additionally, the high median household income suggests that there might be a strong demand for higher-end rentals, which could offer better returns but would not be suitable for Section 8 tenants. #### Specific Actionable Insights 1. **Target Lower-Cost Properties**: Investors should focus on acquiring properties that are priced below the median Zillow price of $192,075. This will allow them to rent out units at FMR levels while still generating positive cash flow. For example, a property priced at $150,000 could potentially be rented out at $1890 per month, yielding a positive net operating income (NOI) if expenses are managed effectively. 2. **Develop Relationships with Local Housing Authorities**: Building relationships with local housing authorities can provide valuable insights into the availability and distribution of Section 8 vouchers. This can help investors identify areas within ZIP code 30809 where there is a higher concentration of voucher holders, increasing the likelihood of securing tenants. 3. **Consider Multi-Family Units**: Given the high FMR for larger units (e.g., 3BR and 4BR), multi-family units may present a better opportunity for cash flow positivity. For instance, a three-bedroom unit with an FMR of $2440 could be more attractive to families, and the higher rent could offset some of the costs associated with maintaining a larger property. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 30809 is to **Skip**. The high market rents and the limited number of voucher holders make it difficult to achieve positive cash flow when renting at FMR levels. While there are opportunities to target lower-cost properties and develop relationships with local housing authorities, the overall market conditions suggest that this ZIP code may not be the best choice for those primarily interested in Section 8 tenants. Investors looking for higher returns might want to explore other areas with more favorable market dynamics.

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.