Location: Cook County, GA | Metro: Cook County, GA
| 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 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 31647 in the metro area for fiscal year 2026 is set at $1,010. This figure represents the payment standard for Section 8 housing vouchers, meaning that if you participate in the program, you will receive this amount per month for each unit rented under the voucher scheme. It's important to note that this is not the actual rent you can charge your tenants; it is the maximum amount the government will pay on behalf of the tenant.
To put this into perspective, the average rent in ZIP 31647, based on Census American Community Survey (ACS) data, is $933. This indicates that the FMR is slightly higher than the typical market rate, which can be advantageous for landlords who might otherwise struggle to cover expenses.
The demand for rental properties in this area is strong, with 40.2% of residents being renters. This high percentage suggests that there is a significant number of potential tenants who may require housing assistance through Section 8. As a landlord, this translates to a robust pool of applicants interested in your property.
When considering acquiring a new rental property in ZIP 31647, the median home value stands at $125,700. This figure gives you an idea of the investment required to enter the market. However, remember that the FMR does not guarantee that all costs will be covered, especially if your property's maintenance and other expenses exceed this amount.
Before deciding to accept a Section 8 tenant, verify that your property meets the Housing Quality Standards (HQS). These standards ensure that the property is safe and livable, and passing this inspection is mandatory for participation in the program. By confirming compliance with HQS, you avoid potential delays and ensure your property is ready for Section 8 tenants.
In summary, the FMR of $1,010 offers a baseline for income, while the local average rent of $933 provides context on the market rate. With a substantial 40.2% of residents renting, there is considerable demand for affordable housing options. At an acquisition cost of around $125,700, entering the Section 8 market in ZIP 31647 is feasible but requires careful consideration of your property's condition and costs.
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.