Location: Washington County, GA | Metro: Baldwin 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 | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $147,213 | 0.68% | D |
| 3BR | $1,380 | $174,376 | 0.79% | D |
| 4BR | $1,470 | $296,855 | 0.5% | F |
| 5BR | $1,705 | $388,430 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 31087, located in Sparta, GA, stands out within Hancock County due to its unique demographic and economic characteristics. With a population of 8,846 residents, it has a relatively low rental rate at 19.9%, indicating that homeownership is prevalent among its inhabitants. The median income in this area is $37,679, which is modest but supports a comfortable living standard given the local cost of living. Notably, the median home value in ZIP 31087 is significantly higher at $227,359, reflecting the substantial investment in property within the region.
From a voucher economics perspective, the Fair Market Rent (FMR) for ZIP 31087 in fiscal year 2026 is projected to be $970. This figure is slightly above the current market rent of $938, based on Census American Community Survey (ACS) data. Landlords and small-portfolio investors should take note of this trend, as it suggests a favorable environment for leveraging Section 8 vouchers. The higher FMR compared to the market rent means that tenants with vouchers can afford higher rents, potentially increasing the landlord's revenue without exceeding the affordable range for residents.
Evaluating the overall data signature of ZIP 31087, it appears stable. The balance between rental rates and homeownership, combined with a reasonable median income and a high median home value, indicates a community that is financially sound and likely to maintain its current state. However, the slight increase in FMR over market rent points towards a transitional phase where voucher usage could become more advantageous for both tenants and landlords. This transition offers an opportunity for landlords to secure steady tenants and possibly command higher rents without financial strain on the residents.
In summary, ZIP 31087 in Sparta, GA, presents a stable yet slightly transitional environment for real estate investments. The median home value of $227,359 and the modest median income of $37,679 suggest a balanced community, while the voucher economics, with an FMR of $970 compared to the market rent of $938, offer a strategic advantage for landlords willing to participate 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.