Section 8 Fair Market Rent (FMR) for ZIP 31796 - 2027

Location: Crisp County, GA | Metro: Albany, GA MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$880
1 Bedroom	$910
2 Bedrooms	$1,020
3 Bedrooms	$1,390
4 Bedrooms	$1,680
5 Bedrooms	$1,949
6 Bedrooms	$2,183
7 Bedrooms	$2,358
8 Bedrooms	$2,476

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,048

Median Household Income

$45,833

Housing Units

794

Renter Percentage

14.1%

Occupancy Rate

54.4%

Renter Occupied

A landlord considering ZIP 31796 for Section 8 investments must follow a structured decision-making process. Begin with the first question:

Does the Fair Market Rent (FMR) of $890 cover the debt service on a property valued at $251,561? To determine this, calculate the monthly mortgage payment based on typical financing terms. Assuming a 30-year fixed-rate mortgage at an average interest rate of 4.5%, the monthly payment would be approximately $1,250. The FMR of $890 does not clear this debt service, indicating that without additional rental income or equity, buying a property in this ZIP for Section 8 purposes is financially unfeasible.

If the FMR does not cover the debt service, the answer is a clear no. However, if you adjust your criteria, such as targeting properties below $251,561 or finding areas where FMR might be higher, proceed to the second question:

Is the market rent of $725 above, at, or below the FMR? In ZIP 31796, the market rent is below the FMR. This suggests that while Section 8 tenants might pay more than what the market currently offers, the gap is minimal. This could still make the investment viable if other factors align favorably.

Moving forward, the third question is crucial:

Are the 14.1% of residents renting and the day DOM (Days On Market) sufficient to indicate demand? With 14.1% of residents being renters, there is a moderate level of rental demand. However, the absence of data on days on market (DOM) makes it difficult to assess how quickly rental units are occupied. This lack of information introduces uncertainty into the decision-making process.

It depends on whether you can secure a lower-priced property or find a way to reduce the debt service. Additionally, the low market rent compared to FMR could be advantageous, but only if the rental vacancy rate is low and the housing stock is limited, which would require further investigation into local real estate trends and availability.

In conclusion, the financial viability hinges on the ability to manage costs effectively and the overall demand for rental properties. Without a clear positive on the debt service coverage and insufficient data on DOM, a landlord should cautiously evaluate other aspects of the ZIP code's real estate market before deciding to invest in Section 8 properties.

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.