Location: Putnam County, GA | Metro: Atlanta-Sandy Springs-Roswell, 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 | $930 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,130 | $340,336 | 0.33% | F |
| 3BR | $1,530 | $418,377 | 0.37% | F |
| 4BR | $1,630 | $643,150 | 0.25% | F |
| 5BR | $1,891 | $1,238,355 | 0.15% | F |
U.S. Census Bureau data (2024)
The potential pitfalls for a landlord investing in Section 8 housing in ZIP code 31024, located in Eatonton, GA, are significant and must be carefully considered. Tenant turnover is a notable risk, as the market rent stands at $2,575, while the Fair Market Rent (FMR) for FY 2024 is set at $1,370. This disparity indicates that tenants relying on Section 8 vouchers may struggle to cover additional costs beyond the subsidized amount, leading to higher turnover rates.
Vacancy exposure is another critical concern. The average Days on Market (DOM) for rental properties in this area is 64 days, which is above the national average. This extended period can result in significant financial losses due to non-payment during vacancies. Furthermore, the deferred maintenance exposure is considerable. With a typical home value of $401,398 and a median income of $65,971, landlords must anticipate the need for regular upkeep and repairs, which tenants may not be able to afford or contribute towards.
However, these risks are tempered by the high renter share in the area, which stands at 19.9%. A large proportion of renters typically translates into robust demand for Section 8 vouchers, potentially stabilizing occupancy rates over time. Additionally, the concentration of renters often correlates with a supportive network for voucher holders, reducing the likelihood of sudden evictions due to unforeseen circumstances.
In summary, the investment in Section 8 housing in ZIP code 31024 presents a moderate risk for a first-time landlord, given the balance between high turnover and vacancy risks and the strong demand for subsidized housing.
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.