Location: Augusta-Richmond County, GA | Metro: Augusta-Richmond County, GA-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
ZIP code 30903, located within the Augusta-Richmond County, GA-SC HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1400 for fiscal year 2024. This figure represents the maximum amount that a low-income household can pay toward rent while still qualifying for housing assistance under the Section 8 program.
The absence of market rent and home value data for ZIP 30903 suggests limited available information on current rental rates and property values in this area. However, we can infer some insights based on the FMR alone. The FMR for ZIP 30903 is lower than the average FMR for the larger Augusta-Richmond County, GA-SC HUD Metro FMR Area, indicating that it could be a value pocket within the metro region. Value pockets are areas where the cost of living is relatively lower compared to surrounding regions, making them attractive for both tenants seeking affordable housing and landlords looking to offer competitive rental rates.
The lack of specific data on the renter share percentage further complicates a direct comparison with other ZIP codes within the same metro area. However, typically, a high renter share combined with below-average home values can indicate a strong Section 8 presence, which might be the case here given the lower FMR. Landlords in ZIP 30903 should consider the potential benefits of focusing on Section 8 tenants, such as stable income from government subsidies and a steady demand for affordable housing units.
To provide a more comprehensive analysis, it would be necessary to gather additional data on market rents and home values for ZIP 30903. This would allow for a clearer assessment of whether it falls into the category of a value pocket, a mid-tier neighborhood, or a premium sub-market within the Augusta-Richmond County, GA-SC HUD Metro FMR Area. For now, the lower FMR points towards a potentially valuable opportunity for those willing to serve the needs of low-income households.
Data Sources: FMR data from HUD (2027).
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.