Location: Bulloch County, GA | Metro: Savannah, GA MSA
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 | $1,310 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,520 | $200,258 | 0.76% | D |
| 3BR | $2,020 | $304,428 | 0.66% | D |
| 4BR | $2,300 | $350,763 | 0.66% | D |
| 5BR | $2,668 | $381,812 | 0.7% | D |
U.S. Census Bureau data (2024)
ZIP code 31308, located in Ellabell, Georgia, stands out within Bryan County due to its unique demographic and economic characteristics. With a population of 8,416 residents, only 14.5% of whom are renters, it reflects a predominantly owner-occupied community. The median income here is $73,061, which is relatively high compared to the national average, indicating a middle-class area. Additionally, the median home value of $319,392 suggests a stable housing market where property values are robust.
The economics of Section 8 vouchers in ZIP 31308 reveal an interesting dynamic. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,290, while the market rent, according to Census ACS data, is $1,214. This means that landlords who accept Section 8 vouchers can expect to receive slightly higher rents than the current market rate, making it financially advantageous for them. However, the low rental rate of 14.5% implies that there might be limited demand for rental properties, including those accepting vouchers. Landlords should consider the potential benefits of guaranteed rent payments from the government versus the lower overall rental market presence.
Analyzing the data signature of ZIP 31308, it reads as stable. The high median income and home values suggest a consistent economic environment where homeownership is the norm. While the rental market is small, the slight premium offered by Section 8 vouchers can provide a steady income source for landlords willing to participate. Given these factors, ZIP 31308 appears to be a reliable location for small-portfolio investors looking to diversify their holdings into rental properties that accept government assistance.
To summarize, Ellabell's ZIP 31308 offers a stable environment with high median incomes and home values. Although the rental market is modest, the financial incentives from Section 8 vouchers can make it attractive for landlords. The combination of these elements points towards a stable rather than transitional area, suitable for long-term investment strategies.
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.