Location: Talbot County, GA | Metro: Talbot County, GA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The ZIP code 31810 presents a unique challenge for both renters and landlords due to limited data on median income and market rate rental prices. However, using the available Fair Market Rent (FMR) standards set at $890 for fiscal year 2024, we can infer some insights into the local rental market.
With an FMR of $890, households receiving housing vouchers will have a budget cap for renting properties in ZIP 31810. This means any property rented under a voucher program cannot exceed this amount. Given the small population of 175 residents, the rental market is quite tight, with only 8.9% of the population being renters. This low percentage suggests that competition among landlords for these few potential tenants could be intense.
The affordability gap in ZIP 31810 is significant, especially considering the lack of median income data. Without knowing the typical income levels, it's challenging to assess whether a household can comfortably afford the $890 FMR. If the median income is lower than what's required to sustain the FMR, then the gap widens, making it harder for tenants to find suitable housing without assistance.
For landlords, the decision between accepting voucher payments versus relying on cash-paying tenants must consider the size of the rental market and the financial stability of tenants. Accepting vouchers ensures a steady stream of rental income, albeit at a fixed rate of $890. On the other hand, pursuing cash-paying tenants might offer higher rents but requires navigating a smaller pool of potential renters who can afford market rates.
The takeaway: Landlords in ZIP 31810 should carefully evaluate the benefits of accepting vouchers against the potential for higher rents from cash-paying tenants. Given the small number of renters, securing a tenant through voucher programs could provide a more reliable source of income, despite the capped rates. However, landlords should also remain vigilant for opportunities to attract cash-paying tenants, especially if market conditions improve or additional income sources become available to the local population.
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.