Location: Albany, GA | Metro: Albany, GA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
The ZIP code 31702 in Georgia presents a mixed picture for landlords considering Section 8 investments. Let's break down the decision-making process.
1) Does FMR $980 clear debt service on a property?
No data is available to determine if the Fair Market Rent (FMR) of $980 can cover the debt service on a property in ZIP 31702. This makes it impossible to provide a definitive answer without further specifics on property costs and financing terms.
2) Is market rent above, at, or below FMR?
Likewise, there is no information on the market rent in ZIP 31702. Without knowing whether market rents are higher, equal to, or lower than the FMR of $980, it's unclear how competitive Section 8 rentals would be.
3) Are the percentage of renters and days on market (DOM) enough to ensure demand?
The data does not specify the percentage of renters or the average days on market for properties in ZIP 31702. These metrics are crucial for assessing the rental market's health and demand for Section 8 properties.
In summary, due to the lack of specific data points, it is difficult to give a straightforward recommendation on investing in Section 8 properties in ZIP 31702. To make an informed decision, a landlord would need to gather additional local market data, including property costs, financing terms, market rent levels, and rental demand indicators such as the percentage of renters and average DOM.
Data Sources: FMR data from HUD (2027).
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.