Location: Colquitt County, GA | Metro: Colquitt County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The ZIP code 31756 has a population of 1,565 residents, with only 2.9% being renters. This indicates that it is predominantly a homeowner-dominated area rather than a renter-heavy one. The median household income stands at $77,375, which is relatively high for the region.
Despite the low percentage of renters, the demand for Section 8 vouchers could still be present but likely limited. Market rent figures are not available, making it difficult to provide an exact percentage of how much rent typically consumes of local income. However, we can compare the median income to the Fair Market Rent (FMR) of $970 for the fiscal year 2026 in the metropolitan area.
To understand the impact of FMR on the local income, let's assume a typical renter spends around 30% of their income on housing, as recommended by many financial advisors. At 30%, a resident would spend approximately $23,212.50 annually on rent, or roughly $1,934.38 per month. This far exceeds the FMR of $970, suggesting that the rental market in ZIP 31756 could be higher than the FMR if it aligns with the local income standards.
A landlord in ZIP 31756 should expect tenants who are likely to be part of a smaller pool of individuals relying on Section 8 vouchers. These tenants will have incomes below the median, possibly significantly lower, to qualify for assistance. The competition for these vouchers might be less intense due to the lower number of renters, but the overall demand for affordable housing could still influence the rental market dynamics.
In summary, ZIP 31756 is not a renter-heavy area, and landlords should prepare for a niche market of tenants using Section 8 vouchers. The typical renter's income will be a fraction of the median, and landlords should ensure their properties meet the necessary requirements to participate effectively in this program.
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.