Location: Laurens County, GA | Metro: Laurens County, GA
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 | $720 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,320 | $189,068 | 0.7% | D |
U.S. Census Bureau data (2024)
The analysis of the Section 8 cap-rate picture for ZIP code 31027 reveals some key insights into the potential rental income and gross yields for landlords and small-portfolio investors. Based on the Fair Market Rent (FMR) for a 2-bedroom apartment set at $1,020 annually (for FY 2026, metro), the annualized rental income would be $12,240. When this figure is compared to the median home value of $138,036, the implied gross yield stands at approximately 8.87%. This calculation assumes that the property is rented out at the full FMR rate.
However, using the market rent figure of $865 (from Census ACS) for a similar 2-bedroom unit, the annualized rental income drops to $10,380. In this scenario, the implied gross yield is significantly lower at about 7.52%. Given these two scenarios, it's important to consider the actual conditions of the ZIP code, such as the 29.6% renter density and the fact that the days on market (DOM) data is not available. These factors suggest that while the FMR provides a benchmark, the actual market conditions may lean towards the lower market rent figure.
The higher gross yield based on FMR could be challenging to achieve consistently due to the relatively low renter density in ZIP 31027. Landlords should prepare for the possibility of needing to offer competitive rates closer to the market rent of $865 per month, which would result in a gross yield closer to 7.52%. This aligns more closely with the current market dynamics and is likely a more realistic expectation for investment returns in this area.
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.