Section 8 Fair Market Rent (FMR) for ZIP 31773 - 2027

Location: Thomas County, GA | Metro: Colquitt County, GA

Investment Score for ZIP 31773

N/A

Monthly Rent (2BR)

$1,120

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$960
1 Bedroom	$960
2 Bedrooms	$1,120
3 Bedrooms	$1,380
4 Bedrooms	$1,520
5 Bedrooms	$1,763
6 Bedrooms	$1,975
7 Bedrooms	$2,133
8 Bedrooms	$2,240

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,380	$298,952	0.46%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,981

Median Household Income

$80,125

Housing Units

2,000

Renter Percentage

22.8%

Occupancy Rate

85.5%

Renter Occupied

390

The Section 8 economics in ZIP 31773 are defined by the SAFMR (Section 8 Area FMR) which is set at $1,040 for a two-bedroom apartment for the fiscal year 2026. This figure represents the maximum amount that the federal government will reimburse landlords under the Housing Choice Voucher program for this specific ZIP code.

Local market rent, according to the Census ACS data, is currently $917 for a similar unit. However, the actual payment received by landlords through Section 8 vouchers is calculated differently and can be less than the SAFMR.

To understand the net reimbursement to landlords, we must factor in the tenant's portion and any utility allowances. Landlords receive the difference between the SAFMR and the tenant's contribution towards rent, which is typically 30% of their income. Utility allowances vary but generally cover the costs that tenants would otherwise pay out-of-pocket.

Let’s break down the reimbursement process:

Tenant Contribution: The tenant pays 30% of their adjusted monthly income toward rent. If the tenant’s income is $1,500 per month, they would contribute $450 ($1,500 x 0.3).
Voucher Payment: The voucher covers the remaining amount up to the SAFMR. In this case, the voucher would pay $590 ($1,040 - $450).
Utility Allowances: These are additional payments made directly to the tenant, reducing the overall rent burden. The exact amount depends on the utility costs in the area and the specifics of the voucher agreement.

In ZIP 31773, given the SAFMR of $1,040 and assuming a tenant income of $1,500, the landlord would receive $590 from the voucher program plus whatever the tenant contributes above their 30% income share, if applicable. This results in a total of $1,040 being covered by the combination of tenant contribution and voucher payment.

However, the local market rent is lower at $917, meaning landlords might face a reimbursement gap where the voucher payment does not fully align with the market value of the rental unit. This gap amounts to $123 ($1,040 - $917), indicating that landlords could potentially lose $123 per month on a two-bedroom unit when compared to the average market rent in the area.

To summarize, landlords in ZIP 31773 should expect a reimbursement of up to $1,040 for a two-bedroom unit under the Section 8 program. With the local market rent at $917, landlords will typically have a surplus of $123 per unit, reflecting the higher reimbursement rate compared to the actual market conditions.

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.