Section 8 Fair Market Rent (FMR) for ZIP 31156 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 31156, located in Georgia, is situated in a region that offers a mix of rural charm and suburban convenience. This area is particularly relevant for Section 8 real-estate analysts due to its affordable housing options and the presence of low-income households eligible for federal rental assistance.

• The Fair Market Rent (FMR) for ZIP 31156 as of the fiscal year 2024 is set at $1940. This figure represents the maximum amount landlords can charge tenants participating in the Section 8 program.
• The market rent for the area is currently N/A, indicating that there is limited data available on the average rental prices outside of the Section 8 program. This makes the FMR a critical benchmark for rental properties in the region.
• The median home value in ZIP 31156 is N/A, suggesting that there is either insufficient data or a lack of significant home sales activity in recent times. This could be indicative of a rental-heavy market.
• The percentage of residents who are renters in this ZIP code is N/A, which means we do not have precise data on the proportion of renters versus homeowners. However, given the affordable nature of the area, it's reasonable to infer a notable renter population.
• The Days on Market (DOM) for listings in this area is N/A, implying that there might be a slower pace of real estate transactions compared to more active markets. This metric would be crucial for understanding how quickly properties are rented out.
• The median household income for ZIP 31156 is N/A, making it challenging to gauge the economic profile of the area's residents. Nonetheless, the affordability of the FMR suggests that many households fall under the income guidelines for Section 8 eligibility.

Given the data available, landlords and small-portfolio investors in ZIP 31156 should focus on properties that can be rented out for the fair market rate of $1940, targeting the likely significant number of low-income households seeking affordable housing. While specific metrics such as median home value and renter share are not available, the slow pace of real estate transactions and the affordability of the area suggest a stable but not highly competitive market for rentals. Investors should prepare for a steady, if not rapidly growing, demand for rental units suitable for the Section 8 program.

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.