Location: Monroe 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 | $1,390 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,640 |
| 3 Bedrooms | $1,950 |
| 4 Bedrooms | $2,150 |
| 5 Bedrooms | $2,494 |
| 6 Bedrooms | $2,793 |
| 7 Bedrooms | $3,016 |
| 8 Bedrooms | $3,167 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,640 | $221,707 | 0.74% | D |
| 3BR | $1,950 | $215,843 | 0.9% | C |
| 4BR | $2,150 | $352,167 | 0.61% | D |
| 5BR | $2,494 | $513,462 | 0.49% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 31220 in Macon, Georgia, for fiscal year 2024 is set at $1,420. This figure represents the maximum amount that a landlord can charge a tenant who participates in the Section 8 program. It is important to note that this is not the rent you will receive; it is the payment standard used to determine the subsidy amount.
In comparison, the local Zillow Observed Rent Index (ZORI) stands at $1,337. This indicates that the market rent in your area is slightly below the FMR, meaning that if you decide to participate in the Section 8 program, you will be charging a rate that is close to the average rent in the area but still within the guidelines.
The renter share in this ZIP code is 40.8%, which suggests that a significant portion of the population relies on rental housing. This high demand for rentals can be beneficial for landlords, as it ensures a steady pool of potential tenants. However, it also means that competition among landlords for tenants can be fierce, especially when those tenants are seeking subsidized housing.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in ZIP 31220 is approximately $246,708. This figure gives you an idea of the typical cost of acquiring a property in this area. When deciding whether to invest in a Section 8 rental, ensure that the property's value aligns with the FMR and that the location meets the criteria for the program. One key factor to verify is that the property complies with the Housing Quality Standards (HQS), which are essential to qualify for Section 8 tenancy.
To summarize, participating in the Section 8 program in ZIP 31220 could be a viable option for landlords and small-portfolio investors due to the strong rental demand and reasonable acquisition costs. However, the rent you can charge is capped at $1,420, which is just above the current market rent of $1,337. Before proceeding, confirm that your property meets the HQS requirements to avoid any disqualifications.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.