Section 8 Fair Market Rent (FMR) for ZIP 31792 - 2027

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

Investment Score for ZIP 31792

Monthly Rent (2BR)

$1,270

Median Price (2BR)

$151,697

1% Rule

0.84%

Annual Yield

10.05%

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	$1,120
1 Bedroom	$1,120
2 Bedrooms	$1,270
3 Bedrooms	$1,540
4 Bedrooms	$1,680
5 Bedrooms	$1,949
6 Bedrooms	$2,183
7 Bedrooms	$2,358
8 Bedrooms	$2,476

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,270	$151,697	0.84%	C
3BR	$1,540	$242,760	0.63%	D
4BR	$1,680	$404,883	0.41%	F
5BR	$1,949	$652,630	0.3%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

22,962

Median Household Income

$50,460

Housing Units

11,167

Renter Percentage

44.6%

Occupancy Rate

86.9%

Renter Occupied

4,331

Located in Thomas County, ZIP code 31792 is part of the broader Thomasville, GA metro area, which offers a stable real estate market for both residential rentals and property investments. The area's economic conditions and housing trends provide valuable insights for landlords and small-portfolio investors looking to capitalize on opportunities in this region.

The Fair Market Rent (FMR) for a two-bedroom apartment in the Thomasville, GA metro area for fiscal year 2026 is set at $1,180. This figure represents the government's benchmark for affordable rental costs under the Section 8 program.
The market rent for a two-bedroom apartment in ZIP 31792, as measured by the Zillow Observed Rental Index (ZORI), stands at $1,754. This indicates that the actual market rates exceed the FMR, suggesting potential profitability for private landlords.
The median home value in ZIP 31792 is $206,254, offering a balance between affordability and investment value for those interested in purchasing properties.
Renters make up 44.6% of the population in this ZIP code, indicating a significant demand for rental properties.
The Days on Market (DOM) for rental listings is 35 days, which is relatively low, pointing towards a healthy turnover rate and strong tenant interest.
The median household income in ZIP 31792 is $50,460, providing a gauge on the financial capacity of potential tenants to afford higher rents or purchase homes.

The combination of a high renter share and a market rent that exceeds the Fair Market Rent suggests a robust opportunity for landlords and small-portfolio investors in ZIP 31792. With a median home value that remains competitive, property owners can also consider the potential for flipping or long-term appreciation. However, the success of any investment strategy will depend on aligning with the local economic conditions and ensuring that rental properties meet the quality standards expected by tenants willing to pay above the FMR. The low DOM for rental listings underscores the active nature of the market, making it essential for investors to act swiftly to secure desirable properties.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.