Location: Augusta-Richmond County, GA | Metro: Augusta-Richmond County, GA-SC 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 | $880 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,060 | $39,994 | 2.65% | A+ |
| 2BR | $1,170 | $50,761 | 2.3% | A+ |
| 3BR | $1,470 | $82,842 | 1.77% | A+ |
| 4BR | $1,790 | $124,539 | 1.44% | A |
U.S. Census Bureau data (2024)
The rent math in ZIP 30901 does not align favorably for landlords. The Federal Market Rent (FMR) for the area in fiscal year 2024 is set at $920, whereas the market rent, as indicated by the Zillow Observed Rental Index (ZORI), stands at $1,261. This discrepancy means that properties relying on Section 8 vouchers may struggle to cover operating costs and desired profit margins, given the lower subsidized rate.
Acquisition in this ZIP code is relatively affordable. With a median home value of $71,090, it presents an opportunity for investors looking to enter the market without significant capital outlay. However, the lack of data on days-on-market (DOM) and the low percentage of homes requiring price cuts (0.2%) suggest a competitive market where homes sell quickly and at close to asking price. This indicates that while entry-level prices are attractive, securing a property might require swift action.
Tenant demand is robust in ZIP 30901. The area has a population of 16,484, with 76.1% of residents being renters. This high percentage of renters signals strong interest in rental properties, which can translate into a steady stream of potential tenants. Given the sizeable rental market, landlords should expect consistent occupancy rates and less time spent on vacancy management.
In summary, ZIP 30901 offers a mixed picture for real estate investment. While the rent math poses challenges due to the disparity between FMR and market rents, the affordability of acquisitions and strong tenant demand present opportunities. Landlords must weigh the lower subsidy rates against the quick sales and high renter population to determine if this market suits their investment strategy. For those willing to navigate the complexities of Section 8 in a competitive yet populous rental environment, ZIP 30901 could be a viable option.
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.