Location: Valdosta, GA | Metro: Valdosta, GA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 31699 in Fiscal Year 2024 is set at $1310. This figure represents the payment standard for Section 8 vouchers and does not necessarily reflect the actual rent that tenants can pay. The FMR is used to determine the maximum amount that the government will subsidize for a rental unit.
According to recent data, the median home value in ZIP 31699 is $150,000. This indicates that the area has a relatively low cost of acquisition for rental properties. Additionally, the renter share in this ZIP code is 40%, which suggests there is significant demand for rental properties.
When considering a first Section 8 rental in ZIP 31699, ensure that the property meets all the necessary requirements for the program. This includes passing a Housing Quality Standards (HQS) inspection, which verifies that the property is safe, decent, and sanitary. Before proceeding, check if your property meets these criteria to avoid any delays or complications.
Remember, while the FMR provides a benchmark, it's crucial to evaluate the overall condition and location of the property to set a competitive yet reasonable rent. With a median home value of $150,000 and a 40% renter share, there is potential for a stable investment in this area.
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.