Location: Wilcox County, GA | Metro: Wilcox County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 31001 are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) is set at $970 per month for fiscal year 2026. This figure is specific to this ZIP code and reflects the maximum rental amount that the housing authority will reimburse landlords participating in the program.
Local market rents, according to the Census ACS data, run at $614 per month for a similar unit. It's important to note that the SAFMR is higher than the average market rent, which can be beneficial for landlords willing to participate in the program.
A Section 8 voucher works by covering most of the rent after the tenant pays their portion. Typically, the tenant pays 30% of their adjusted income towards rent. If we assume an average adjusted income for tenants in ZIP 31001, the tenant might pay around $291 per month, based on the SAFMR. This leaves the housing authority to cover the remaining balance up to the SAFMR limit.
In addition to the rent, the housing authority also provides utility allowances. These vary but generally add another layer of financial support for the tenant. For a two-bedroom unit, the utility allowance might be around $300 per month.
This means that if a landlord charges the SAFMR rate of $970, the total monthly payment they receive would be approximately $591 ($291 tenant portion + $300 utility allowance). However, since the local market rent is lower at $614, many landlords may choose to charge closer to the market rate, ensuring they are still above the market average but not overpricing their units.
If a landlord sets their rent at the market rate of $614, the housing authority would reimburse them the full $614, assuming it does not exceed the SAFMR. In this case, the landlord receives the full market rent plus the utility allowance, totaling $914 per month.
The typical reimbursement gap or surplus for a two-bedroom unit in ZIP 31001 is thus positive, with landlords receiving more than the local market rent when setting their rates at or below the SAFMR. Landlords should be aware that the actual reimbursement can vary slightly depending on the tenant's income and the specific utility allowance provided, but the general framework remains consistent.
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.