Section 8 Fair Market Rent (FMR) for ZIP 31088 - 2027

Investment Score for ZIP 31088

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,200
1 Bedroom	$1,330
2 Bedrooms	$1,490
3 Bedrooms	$1,990
4 Bedrooms	$2,390
5 Bedrooms	$2,772
6 Bedrooms	$3,105
7 Bedrooms	$3,353
8 Bedrooms	$3,521

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,490	$138,020	1.08%	B
3BR	$1,990	$218,741	0.91%	C
4BR	$2,390	$330,590	0.72%	D
5BR	$2,772	$433,609	0.64%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 31088 (Warner Robins, GA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for Warner Robins, GA, as of 2026, is set at $1450 for a two-bedroom unit. This amount represents 20.9% of the median household income of $83,082 in the area. The FMR is designed to ensure that low-income families can afford decent housing. However, comparing the FMR to actual rental prices reveals some interesting dynamics. For instance, the Zillow median price for a two-bedroom home is $137,932, which translates into a price-to-FMR ratio of 7.9x. This suggests that the cost of purchasing a property is significantly higher than what a tenant with a Section 8 voucher could pay in rent. Voucher holders face several constraints. The maximum allowable rent under the Section 8 program is capped at the FMR, meaning that landlords must be willing to accept $1450 per month for a two-bedroom unit. Given the high purchase prices, this can be a challenge for landlords who might expect higher returns on their investment through rental income. Additionally, the voucher payment process involves regular inspections and compliance checks, which can be time-consuming and may deter some landlords from participating. #### Affordability & Renter Profile Warner Robins has a population of 58,585, with 36.9% of residents being renters. This indicates a significant portion of the community relies on rental housing. The occupancy rate stands at 91.5%, suggesting a relatively tight market where most available units are occupied. This high occupancy rate implies that there is strong demand for rental properties, but it also means that competition among tenants is fierce. Given the median household income of $83,082, the FMR of $1450 for a two-bedroom unit seems reasonable. However, the high price-to-FMR ratio of 7.9x suggests that the cost of owning a property is much higher than the rental income it can generate. This makes it difficult for lower-income families to find affordable housing without assistance, and it highlights the importance of the Section 8 program in this market. #### Investor Angle From an investor perspective, the ZIP code 31088 offers mixed prospects. The FMR for a two-bedroom unit is $1450, which is 20.9% of the median household income. While this is a reasonable amount for a tenant to pay, the high purchase price of $137,932 for a similar unit means that the potential return on investment is limited. The price-to-FMR ratio of 7.9x indicates that the cost of acquiring a property far outweighs the rental income it can generate under the Section 8 program. To determine if this ZIP code is cash-flow positive at FMR, we need to consider the typical expenses associated with owning a rental property. These include mortgage payments, property taxes, insurance, maintenance, and other operational costs. Assuming a conservative estimate of 1% annual property tax ($1379), $1000 in annual insurance, and $1000 in annual maintenance, the total annual expenses would be approximately $3379. Dividing by 12 months, the monthly expenses would be around $281. Adding this to the FMR of $1450, the total monthly cost to the landlord would be $1731. This exceeds the FMR, indicating that the property would likely not be cash-flow positive without additional income sources or subsidies. The investment grade for this ZIP code appears to be moderate. While there is strong demand for rental properties, the high purchase prices and limited rental income make it challenging to achieve positive cash flow. Investors should carefully consider the financial implications before entering this market. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the high price-to-FMR ratio, investors should focus on smaller units such as one-bedroom or studio apartments. The FMR for a one-bedroom unit is $1300, which is still a significant portion of the median income but may offer better cash flow potential due to lower acquisition costs. 2. **Seek Out Subsidies and Grants**: To offset the high purchase prices, investors should look into government subsidies and grants that can help reduce the initial capital outlay. Programs like the Low-Income Housing Tax Credit (LIHTC) can provide substantial financial benefits and make Section 8 properties more viable. 3. **Consider Long-Term Rental Strategies**: While the immediate cash flow may be negative, investors could consider long-term strategies such as holding onto properties for appreciation or using them as part of a larger portfolio to balance out the financial impact. #### Bottom Line For Section 8-focused investors, the ZIP code 31088 presents a challenging environment due to the high price-to-FMR ratio. The recommendation would be to **Skip** this market unless you have access to significant subsidies or are willing to take on the financial risks associated with negative cash flow. If you do decide to invest, focus on smaller units and seek out additional financial support to improve the viability of your investments.

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.