Location: Baldwin 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 | $1,010 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,490 |
| 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 | $1,490 | $287,863 | 0.52% | F |
U.S. Census Bureau data (2024)
Investors looking at ZIP 31033 might have several concerns regarding the feasibility of investing in properties under the Section 8 program. Here, we address these key issues with the available data.
Objection 1: Will Fair Market Rent (FMR) of $890 (for zip FY 2024) cover the mortgage on a $228,016 home?
The first concern is whether the FMR will sufficiently cover the mortgage payments on a property valued at $228,016. To evaluate this, consider the typical interest rates and loan terms. Assuming a fixed-rate mortgage at an average rate of 4.5%, the monthly payment for a 30-year term would be approximately $1,115. This amount exceeds the FMR by $225 per month. Therefore, relying solely on the FMR of $890 will not cover the mortgage payment, indicating that additional income sources or rental adjustments outside of the Section 8 program may be necessary.
Objection 2: Is there enough renter demand at 13.1%?
The second objection pertains to the level of renter demand in ZIP 31033, which stands at 13.1%. While this percentage suggests a moderate demand, it does not provide a complete picture without understanding the total number of renters and the vacancy rates. A 13.1% share of the housing market indicates that nearly one out of every seven households could potentially be renters. However, the data does not specify if these renters are eligible for the Section 8 program, nor does it detail the overall vacancy rate, which is crucial for gauging competition among rental properties. Thus, while there is some demand, the specific dynamics of the Section 8 rental market remain unclear.
Objection 3: Will vouchers keep pace with $1,040 market rents?
The final concern is whether the voucher amounts will match up with the market rent of $1,040. The FMR set by HUD is typically lower than the actual market rent, which can pose a challenge. In ZIP 31033, the gap between the FMR ($890) and the market rent ($1,040) is $150 per month. This discrepancy means that landlords participating in the Section 8 program will receive less than what they could potentially earn from market-rate tenants. It's important to note that while voucher amounts can adjust over time, they often lag behind rising market rents, leading to potential financial strain for landlords.
In conclusion, while ZIP 31033 presents opportunities for Section 8 investments, careful consideration must be given to the limitations posed by the FMR and market rent differences, as well as the broader context of renter demand and eligibility for the 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.