Location: Macon-Bibb 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 |
|---|---|---|---|---|
| 3BR | $1,420 | $124,209 | 1.14% | B |
U.S. Census Bureau data (2024)
The ZIP code 31020 has a population of 1,617, with only 7.7% being renters. This indicates that it is primarily a homeowner-dominated area rather than a renter-heavy zone. The median household income stands at $69,720, which provides context when evaluating the market rent of $932.
To understand the financial impact of renting on local residents, we can calculate that the typical rent consumes approximately 16.2% of the median household income. This is derived from dividing the market rent ($932) by the median income ($69,720) and multiplying by 12 months, then by 100 to get the percentage. In comparison, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,120, indicating that the current market rent is below the FMR threshold.
The scarcity of renters in ZIP 31020 suggests that the demand for rental properties using Section 8 vouchers is also likely to be low. Landlords should not expect a large influx of tenants seeking housing assistance through the voucher program. Instead, they will likely encounter a mix of tenants who either have stable employment and can afford the market rent without assistance or those who might qualify for smaller subsidies.
In summary, ZIP 31020 is not an ideal location for landlords looking to attract a high volume of Section 8 tenants. The tenant profile in this area leans towards individuals and families with relatively higher incomes, capable of paying market rents without significant government assistance. The local economy supports a lower percentage of renters, making it a niche market for landlords interested in the Section 8 program.
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.