Location: Cook County, GA | Metro: Cook 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 | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,320 | $210,698 | 0.63% | D |
| 4BR | $1,330 | $310,369 | 0.43% | F |
U.S. Census Bureau data (2024)
A skeptical investor considering ZIP 31620 might have several valid concerns regarding the feasibility of investing in properties here, especially under the Section 8 program. Let's address these concerns head-on using the available data.
Objection 1: Will Fair Market Rent (FMR) of $970 cover the mortgage on a $173,832 home?
The FMR of $970 for ZIP 31620 in fiscal year 2026 does indeed provide a critical baseline for rental income. However, whether it covers the mortgage depends on the interest rate and loan terms. Assuming a typical 30-year fixed-rate mortgage at an average interest rate, the monthly mortgage payment could range from $700 to over $800, depending on down payment and closing costs. Thus, the FMR is likely sufficient to cover the mortgage, but it leaves little room for unexpected expenses or profit margins.
Objection 2: Is there enough renter demand at 36.3%?
The 36.3% figure represents the percentage of households that rent in ZIP 31620. This indicates a moderate level of demand, but it is important to note that this statistic alone does not guarantee a robust rental market. To truly assess demand, one must consider the unemployment rate, job growth trends, and population stability in the area. The data provided does not offer insights into these factors, so while the renter percentage suggests some demand, it is incomplete without additional context.
Objection 3: Will vouchers keep pace with $958 market rents?
The market rent of $958 in ZIP 31620 is slightly above the FMR, indicating a tight margin for voucher coverage. Voucher programs aim to cover a significant portion of market rents, but they are subject to federal funding and local administration. Historically, vouchers have struggled to keep up with rising market rents, especially in areas with higher costs. Without specific data on the recent adjustments to voucher amounts in ZIP 31620, it is prudent to assume that while vouchers will help, they may not fully cover the market rent, leaving landlords to absorb the difference or seek alternative solutions.
In summary, while the FMR of $970 can cover the mortgage on a $173,832 home, the moderate renter demand at 36.3% requires further investigation into local economic conditions. Lastly, although vouchers will support rental income, they may not entirely match the $958 market rent, presenting a potential challenge for landlords.
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.