Location: Ware County, GA | Metro: Ware County, GA
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 | $770 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $61,878 | 1.63% | A+ |
| 3BR | $1,200 | $154,795 | 0.78% | D |
| 4BR | $1,560 | $232,326 | 0.67% | D |
U.S. Census Bureau data (2024)
ZIP code 31501, located in Waycross, GA, stands out due to its unique demographic and economic characteristics. With a population of 13,511, 47.5% of residents rent their homes, indicating a significant portion of the community relies on rental properties. The median income here is $37,314, which is notably lower than the national average. Despite this, the median home value is relatively high at $133,253, suggesting a robust local housing market.
The economics of Section 8 vouchers in this area are favorable for landlords. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,020, while the current market rent, based on Census American Community Survey (ACS) data, is only $741. This means that landlords accepting Section 8 vouchers can potentially charge a higher rent compared to the market rate, thereby increasing their revenue and maintaining profitability despite the income level of tenants.
The data signature for ZIP 31501 reads as stable. The significant difference between the FMR and the market rent suggests a steady demand for affordable housing options, making Section 8 vouchers an attractive option for both tenants and landlords. The high median home value also indicates that the housing stock is well-maintained and appreciated, further supporting a stable investment environment.
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.