Location: Troup County, GA | Metro: Columbus, GA-AL HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $112,413 | 0.94% | C |
| 3BR | $1,320 | $197,907 | 0.67% | D |
| 4BR | $1,610 | $308,075 | 0.52% | F |
| 5BR | $1,868 | $380,641 | 0.49% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 31833, which encompasses West Point, Georgia, in Troup County, revolve around the Subsidized Average Fair Market Rent (SAFMR) and the local market rent. For a two-bedroom apartment, the SAFMR for FY 2024 is set at $890. This figure is specific to this ZIP code, reflecting the unique rental market conditions here. In comparison, the local market rent, based on Census ACS data, stands at $801.
A landlord participating in the Section 8 program receives payments from the Housing Choice Voucher program to cover the difference between the tenant's contribution and the total rent. The tenant is typically required to pay 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,600 per month, the tenant would contribute $480 toward the rent. This amount is then combined with the utility allowance, which varies but can be estimated at around $150 per month for a two-bedroom unit.
Thus, the voucher payment to the landlord would be calculated as follows:
This means that the landlord would receive $630 from the voucher program and $480 from the tenant, totaling $1,110. However, the reimbursement is capped at the SAFMR of $890. Therefore, if the rent exceeds $890, the landlord will only be reimbursed up to this limit. Conversely, if the rent is below $890, the landlord will receive the full rent plus the utility allowance, provided it does not exceed the total voucher payment cap.
In ZIP 31833, given the SAFMR of $890 and the local market rent of $801, landlords participating in the Section 8 program would generally see a surplus of $89 when the rent is set at the market level. This surplus comes from the fact that the voucher covers the entire market rent, plus the utility allowance, without exceeding the SAFMR cap. Landlords should note that this surplus is contingent upon setting rents at or below the market rate and not exceeding the SAFMR cap.
To summarize, landlords in ZIP 31833 who participate in the Section 8 program can expect to receive a total of $890 for a two-bedroom apartment, which is the SAFMR for the area. With the local market rent being $801, there is a potential surplus of $89 per month, assuming the landlord adheres to the established rent limits and utility allowances. This surplus helps offset some of the costs associated with maintaining affordable housing units under the program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.