Location: Pierce County, GA | Metro: Pierce 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 | $820 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,290 | $228,927 | 0.56% | F |
U.S. Census Bureau data (2024)
In ZIP code 31516, the median household income stands at $63,203. Given the market rate of $813 per month for rent, it becomes evident that the average renter faces significant financial strain. To put this into perspective, a household earning the median income would allocate approximately 19.2% of their monthly earnings towards rent alone, which is already a substantial portion of their budget.
The situation becomes even more challenging when comparing the market rate to the Fair Market Rent (FMR) set at $1,080 for the fiscal year 2026. This indicates that the average rental cost is expected to rise by $267, placing an even greater burden on the local residents. At the proposed FMR, rent would consume roughly 25.7% of the median household's monthly income, highlighting a growing affordability gap.
With 23.2% of the 15,623 population being renters, landlords must consider the impact of these financial realities on their tenant pool. The increased cost of living and the anticipated rise in rent suggest that competition among landlords will intensify as fewer households can afford the higher rents. This competition could lead to more aggressive marketing efforts and possibly lower rental rates to attract tenants.
Landlords in ZIP 31516 should weigh the benefits of accepting housing vouchers against relying solely on cash-paying tenants. Vouchers can provide a stable source of income, especially as the FMR increases, making it difficult for some households to pay out-of-pocket. However, landlords must also be prepared to navigate the administrative requirements associated with accepting vouchers. The key takeaway is that understanding the local rental market dynamics and the financial capabilities of potential tenants is crucial for developing a successful rental strategy.
Given the data, landlords who wish to maximize occupancy might find it beneficial to consider both voucher and cash-paying tenants. This dual approach ensures a broader base of potential renters and helps mitigate the risks associated with rising rents and decreased affordability.
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.