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 | $980 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,310 | $90,611 | 1.45% | A |
| 3BR | $1,650 | $145,379 | 1.13% | B |
| 4BR | $2,010 | $188,375 | 1.07% | B |
| 5BR | $2,332 | $204,149 | 1.14% | B |
U.S. Census Bureau data (2024)
Augusta’s 30906 ZIP code represents a primarily residential suburban landscape characterized by established single-family homes and a mix of mid-century retail. The area offers practical living with convenient access to major thoroughfares like Gordon Highway, facilitating commutes across the CSRA. A significant economic anchor here is the VA Medical Center along Wrightsboro Road, which provides a steady base of medical professionals and support staff. This institutional presence injects stability into the local economy, even as parts of the neighborhood grapple with aging infrastructure. The overall feel is working-class and utilitarian, with pockets of revitalization near commercial corridors.
From a numerical perspective, the HUD Fair Market Rent (FMR) for a 2-bedroom unit in FY2024 is set at $1020, while the Full FMR for FY2026 rises to $1210. However, current market rents are outpacing these caps; the Zillow Observed Rent Index for a 2BR sits at $1374. This creates a cash-flow gap of $164 between market rate and the FY2026 standard. Median home values are approachable at $145,457, with the median 2BR sale price even lower at $89,805, suggesting a low barrier to entry. Properties are moving relatively slowly, however, with a median of 62 days on market according to Redfin, indicating that investors must be patient with acquisitions.
The tenant pool is substantial, driven by a 46.5% renter share and a median household income of $45,999. This income level is typical for the area but implies that many families rely on rental assistance to afford quality housing. Demand is bolstered by the proximity to public schools and essential retail, making the area viable for long-term tenants. While the income data suggests a price-sensitive market, the presence of the VA hospital helps ensure a baseline of employment stability, which is crucial for maintaining consistent occupancy rates.
The Section 8 verdict for 30906 leans toward stability and cash flow through lower acquisition costs rather than aggressive rent premiums. The strong cash-flow gap of $164 against the FY2026 FMR suggests that voucher tenants are unlikely to cover top-market rates, yet the low median 2BR sales price of $89,805 allows for favorable debt service ratios. Investors can achieve solid returns by purchasing below the median value and securing the FY2026 FMR of $1210, provided they account for the 62-day liquidity timeline when building their exit strategy.
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.