Location: Augusta-Richmond County, GA | Metro: Augusta-Richmond County, GA-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,480 |
| 1 Bedroom | $1,780 |
| 2 Bedrooms | $1,970 |
| 3 Bedrooms | $2,480 |
| 4 Bedrooms | $3,020 |
| 5 Bedrooms | $3,503 |
| 6 Bedrooms | $3,923 |
| 7 Bedrooms | $4,237 |
| 8 Bedrooms | $4,449 |
U.S. Census Bureau data (2024)
The potential pitfalls of investing in Section 8 properties in ZIP code 30905 are significant and must be carefully considered. Tenant turnover is a critical issue, as the market rent stands at $1,670 while the Fair Market Rent (FMR) for FY 2024 is set at $1,650. This discrepancy can lead to higher turnover rates, which increase administrative burdens and costs for landlords.
Vacancy exposure is another concern, particularly since there is no data available on the number of days on market (DOM) for rental properties in this area. A lack of insight into vacancy trends makes it difficult to predict how long a property might remain unoccupied between tenants.
The risk of deferred maintenance is also present, given that the typical home value data is unavailable, and the median income is relatively low at $74,688. This combination suggests that residents might have limited funds for repairs or improvements, potentially leading to higher maintenance costs for landlords.
However, these risks are offset by the fact that the area has a 100.0% renter share. High renter density typically translates to a robust demand for rental properties, including those that accept Section 8 vouchers. The concentration of renters increases the likelihood of finding qualified tenants who can help stabilize occupancy rates and reduce vacancy periods.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.