Location: Pulaski County, GA | Metro: Macon-Bibb County, GA 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 | $1,050 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $104,334 | 1.13% | B |
| 3BR | $1,420 | $201,186 | 0.71% | D |
| 4BR | $1,560 | $294,142 | 0.53% | F |
U.S. Census Bureau data (2024)
The ZIP code 31014, located in Cochran, Georgia, presents an interesting scenario for both renters and landlords. The median household income stands at $54,362, while the market rate for rent is $791 according to the latest Census ACS data. This means that for a household earning the median income, the monthly rent represents approximately 16.4% of their gross monthly income, assuming no other financial obligations. Although this percentage is generally considered affordable, it does highlight a tight budget for many residents.
Comparatively, the Fair Market Rent (FMR) set by the government for this area is $890 for zip code 31014 in fiscal year 2024. This figure is used to determine the payment standard for housing choice vouchers, commonly known as Section 8 vouchers. If we consider the median income, the voucher payment standard would consume around 18.6% of the gross monthly income. This suggests that households receiving vouchers might find it slightly more challenging to cover their rent compared to those paying market rates.
Cochran has a rental market where 26.9% of the population are renters, out of a total population of 12,769. This indicates a significant portion of the community relies on rental properties, creating a competitive environment for landlords. The affordability gap between the median income and both the market rate and FMR implies that many renters will be looking for subsidized options to make ends meet.
For landlords considering their strategy for voucher versus cash-pay tenants, the key takeaway is clear. While cash-paying tenants may offer higher immediate returns due to the lower administrative burden, the demand for affordable housing suggests that accepting Section 8 vouchers could help secure long-term tenancy and reduce vacancy rates. However, the decision should also factor in the specifics of voucher administration and potential limitations on rental increases.
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.