Location: Charlton County, GA | Metro: Brunswick-St. Simons, 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 | $940 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,170 | $128,885 | 0.91% | C |
| 3BR | $1,540 | $240,046 | 0.64% | D |
| 4BR | $1,800 | $297,709 | 0.6% | D |
U.S. Census Bureau data (2024)
ZIP code 31537 is part of Folkston, Georgia, a small town with a total population of 9,349 residents. Approximately 21.9% of the local populace are renters, indicating a modest demand for rental properties. The median household income in this area stands at $64,461, which is relatively stable and suggests a middle-class community. The median home value in ZIP 31537 is $214,093, reflecting a mix of affordable and moderate-priced housing options.
Moving into the realm of rent economics, the Fair Market Rent (FMR) for ZIP 31537 in fiscal year 2024 is set at $900. This figure is significantly higher than the actual market rent, which according to the Census Bureau's American Community Survey (ACS), averages around $539. This disparity highlights an opportunity for landlords and small-portfolio investors who can leverage the higher FMR rates offered through the Section 8 program.
The question then arises: does this area suit a hands-off voucher operator or require a hands-on approach for a value-add buyer? Given the lower market rent compared to the FMR, a hands-off operator could find success by maintaining properties at a basic level and relying on the guaranteed income from the Section 8 program. However, for those looking to actively manage and improve their investment, there is potential to increase property values and rents over time, thereby enhancing returns beyond the initial voucher rate.
In conclusion, ZIP 31537 offers a balanced environment for Section 8 investments, with a clear economic advantage due to the gap between FMR and market rent. Investors should consider both passive and active strategies based on their management preferences and long-term goals.
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.