Section 8 Fair Market Rent (FMR) for ZIP 31557 - 2027

Location: Wayne County, GA | Metro: Brunswick-St. Simons, GA MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$940
1 Bedroom	$1,000
2 Bedrooms	$1,170
3 Bedrooms	$1,400
4 Bedrooms	$1,720
5 Bedrooms	$1,995
6 Bedrooms	$2,234
7 Bedrooms	$2,413
8 Bedrooms	$2,534

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,687

Median Household Income

$47,083

Housing Units

1,471

Renter Percentage

22.8%

Occupancy Rate

90.3%

Renter Occupied

303

The ZIP code 31557, located in Georgia, is a region characterized by modest economic conditions and a significant rental market presence. The following analysis provides key insights into the area's real estate dynamics, particularly focusing on the implications for Section 8 landlords and small-portfolio investors.

The Fair Market Rent (FMR) for ZIP 31557 in fiscal year 2024 is set at $900, indicating the maximum amount that a Section 8 voucher holder can pay for housing in this area.
The average market rent, according to the latest Census American Community Survey (ACS), stands at $783, which is below the FMR but still offers a competitive rate for landlords participating in the Section 8 program.
The median home value in ZIP 31557 is $205,348, reflecting the overall affordability of the housing market in this region.
Renters make up 22.8% of the population, suggesting a substantial demand for rental properties among low-income families.
The median income for residents in this area is $47,083, which aligns with the income eligibility requirements for many Section 8 participants.
Note: The data for days on market (DOM) is currently unavailable, making it difficult to assess the speed at which properties are typically leased or sold in this area.

Investors considering entry into ZIP 31557 should recognize the potential for stable rental income given the established demand for affordable housing. The gap between the FMR and the actual market rent offers a buffer for landlords, ensuring they can maintain profitability while adhering to program guidelines. With a median home value of $205,348, there is also a reasonable opportunity for property appreciation over time. However, the absence of DOM data means that investors must rely on other indicators to gauge the local real estate activity and turnover rates.

Data Sources: FMR data from HUD (2027). 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.