Location: Atlanta-Sandy Springs-Roswell, GA | Metro: Atlanta-Sandy Springs-Roswell, GA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,560 |
| 1 Bedroom | $1,630 |
| 2 Bedrooms | $1,770 |
| 3 Bedrooms | $2,110 |
| 4 Bedrooms | $2,500 |
| 5 Bedrooms | $2,900 |
| 6 Bedrooms | $3,248 |
| 7 Bedrooms | $3,508 |
| 8 Bedrooms | $3,683 |
The analysis of ZIP code 31119 in Georgia, part of the Atlanta-Sandy Springs-Roswell HUD Metro FMR Area, reveals several key points regarding its viability for Section 8 real-estate investment.
Firstly, the rent math does not work favorably for landlords. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1860. However, due to the lack of specific market rent data, it's impossible to directly compare these figures. Landlords must consider that the FMR is likely lower than what they could charge to market-rate tenants, which could result in lost revenue when participating in the Section 8 program.
Secondly, the acquisition affordability in ZIP 31119 is unclear without specific data on median home values, days on market (DOM), and the percentage of homes that have been subject to price cuts. These metrics would provide insight into whether properties can be purchased at a reasonable cost and if they are selling quickly or requiring price reductions to attract buyers.
Lastly, tenant demand is also uncertain. The population and the percentage of renters in the area are not specified, making it difficult to gauge how many potential tenants might be interested in Section 8 housing. A high percentage of renters typically indicates a robust demand for rental properties, but this cannot be confirmed without specific numbers.
In conclusion, while the FMR for ZIP 31119 is established at $1860, the absence of critical market data such as median home values, days on market, percentage of price cuts, and tenant demographics leaves significant gaps in assessing the overall attractiveness of this area for Section 8 investments. Landlords and investors should seek additional local market insights before committing resources to this zip code.
Data Sources: FMR data from HUD (2027).
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.