Location: Thomas County, GA | Metro: Colquitt County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 31738, which stands at $1,040 for the fiscal year 2026, is a crucial figure for landlords and small-portfolio investors interested in participating in the Section 8 housing program. This amount represents the payment standard set by the U.S. Department of Housing and Urban Development (HUD), meaning it's the maximum amount HUD will pay toward a tenant's rent if they are enrolled in Section 8. It does not represent the total rent you can charge your tenants.
To put this into perspective, the average rent for ZIP 31738, according to the Census Bureau's American Community Survey (ACS), is $748. This indicates that the FMR is higher than the typical market rate, providing a potential buffer for landlords who might otherwise struggle with lower rents.
The 30.2% renter share in ZIP 31738 suggests a strong demand for rental properties. Nearly one-third of the households in this area are renters, indicating a substantial portion of the population relies on rental housing. This high percentage of renters can be a positive sign for those looking to invest in Section 8 properties, as it implies a steady pool of potential tenants.
If you're considering purchasing a property in this ZIP code for a Section 8 investment, the median home value is approximately $208,578. This figure represents the price point you would likely need to acquire a property, which should be factored into your overall investment strategy.
Before proceeding with your investment, it is imperative to verify that the property meets all necessary standards and qualifications for the Section 8 program. This includes ensuring the property complies with HUD’s Housing Quality Standards (HQS), which cover a range of safety and habitability requirements. Failure to meet these standards could result in disqualification from the program, regardless of the property's location or potential tenant base.
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.