Location: Sumter County, GA | Metro: Sumter 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 | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $317,173 | 0.32% | F |
| 3BR | $1,210 | $425,976 | 0.28% | F |
U.S. Census Bureau data (2024)
A skeptical investor might raise several concerns regarding ZIP 31735 (Cobb, GA). Here we address these concerns with available data.
Objection 1: Will FMR $980 (metro FY 2026) cover the mortgage on a $332,915 home?
The Fair Market Rent (FMR) for ZIP 31735 in metro FY 2026 is set at $980. To determine if this will cover the mortgage on a home priced at $332,915, we need to consider current mortgage rates. As of recent data, the national average for a 30-year fixed mortgage rate is approximately 5%. Applying this rate to a $332,915 home with no down payment would result in a monthly mortgage payment of roughly $1,780. This exceeds the FMR by $800, indicating that relying solely on FMR may not be sufficient to cover the mortgage. However, it's important to note that local mortgage rates can vary, and a down payment would reduce the monthly mortgage cost.
Objection 2: Is there enough renter demand at 28.1%?
The percentage of renter-occupied housing units in ZIP 31735 is 28.1%. While this figure suggests a smaller proportion of renters compared to homeowners, it does not necessarily indicate low demand. The median rent in Cobb, GA is $882 per month, which is below the FMR of $980. This implies that there could still be a significant number of renters willing to pay higher rents. Additionally, the rental market in Cobb, GA includes various types of properties, such as apartments and single-family homes, which cater to different segments of the renting population. Therefore, despite the lower percentage, there appears to be a reasonable demand for rental properties.
Objection 3: Will vouchers keep pace with $1,250 market rents?
The Housing Choice Voucher program, commonly known as Section 8, aims to provide affordable rental housing for eligible low-income families. However, the data does not specify the exact amount of vouchers available in ZIP 31735 or their current average value. The FMR of $980 is lower than the market rent of $1,250, suggesting that vouchers might not cover the full rent for a property at market rate. Landlords should consider the possibility of receiving less than the full market rent if they accept Section 8 vouchers. It's also worth noting that the number of vouchers available can fluctuate based on federal funding and local administration.
In summary, while the FMR of $980 may not fully cover the mortgage on a $332,915 home, the rental demand remains reasonable. Vouchers are unlikely to match market rents of $1,250, but they can still provide a stable income source for landlords. Investors should carefully review local mortgage rates and consider the impact of accepting Section 8 vouchers before making investment decisions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.