Section 8 Fair Market Rent (FMR) for ZIP 31823 - 2027
Location: Columbus, GA | Metro: Columbus, GA-AL HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,010 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$71,420
Housing Authorities Serving ZIP 31823
To determine if a landlord should invest in ZIP code 31823 for Section 8 properties, follow this decision tree:
- Does the Fair Market Rent (FMR) of $1140 cover the debt service on a $257,520 property?
- If the annual debt service on a $257,520 property is less than $13,680 ($1140 x 12 months), then Yes. The FMR can sufficiently cover the mortgage payments.
- If the annual debt service exceeds $13,680, then No. The FMR will not be enough to meet the financial obligations associated with owning the property.
- Is the market rent above, at, or below the FMR?
- The data indicates that market rent information for ZIP 31823 is currently N/A. Therefore, it depends on acquiring accurate market rent data to make an informed comparison against the FMR of $1140.
- Are the 36.1% of renters combined with N/A-day Days on Market (DOM) indicative of sufficient demand?
- A 36.1% rental rate suggests a moderate level of demand. However, without specific DOM data, it's unclear how quickly properties are being leased. If the DOM is low, indicating quick leasing times, then Yes, there is likely enough demand. If the DOM is high, suggesting slow leasing, then No, demand may not be strong enough.
The decision to purchase property in ZIP 31823 for Section 8 purposes hinges on these key factors. Landlords must ensure that the FMR covers their debt service, understand the relationship between market rents and the FMR, and assess whether the rental rate and DOM indicate strong enough demand.
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.