Section 8 Fair Market Rent (FMR) for ZIP 31747 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

To determine if you should buy in ZIP code 31747 for Section 8 investment, follow this decision tree:

• Does the Fair Market Rent (FMR) of $980 cover the debt service on a property?
  • If the N/A property's debt service is less than $980, then yes, you can cover it with FMR.
  • If the N/A property's debt service is more than $980, then no, you cannot cover it with FMR.
• Is the market rent of $895 above, at, or below the FMR?
  • The market rent of $895 is below the FMR of $980. This means that properties will be rented out at rates lower than what the government considers fair for Section 8.
• Are there enough renters and days on the market (DOM) to support demand?
  • ZIP 31747 has a 50.0% rental rate, indicating a significant portion of residents are renters. However, without specific data on the DOM, it's difficult to assess the exact level of demand. If the DOM is low, it suggests strong demand; if high, it indicates weaker demand.

It depends on the answers to these questions. If your debt service is covered by the FMR and the DOM indicates strong demand, then the answer leans towards yes. However, given that the market rent is below the FMR, you might face challenges in attracting tenants outside of the Section 8 program. Ensure you understand the local housing dynamics and the specific requirements and regulations of the Section 8 program before making an investment decision.

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.