Location: Mitchell County, GA | Metro: Colquitt County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
970 FMR (metro FY 2026) stands as the benchmark for fair market rental rates in ZIP code 31784, indicating the maximum amount a landlord can charge for a Section 8 rental unit. This figure is notably higher than the $688 market rent reported by the Census ACS, suggesting a potential opportunity for landlords to increase their rental income through the Section 8 program. With a median home value of $171,222, the area offers affordable housing options for both owners and renters. The 9.0% renter share highlights that nearly one in ten residents are likely to be seeking rental accommodations, including those eligible for Section 8 assistance. The median income of $56,607 provides insight into the economic profile of the area, which can influence the demand for subsidized housing. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut shares, the disparity between the FMR and the market rent suggests that there is room for landlords to adjust their pricing strategies without alienating potential tenants. In conclusion, given the favorable fair market rate and the relatively low market rents, ZIP code 31784 presents a solid opportunity for landlords interested in participating in the Section 8 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.