Location: Columbus, GA | Metro: Columbus, GA-AL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
The Fair Market Rent (FMR) for ZIP code 31999 in Georgia for fiscal year 2024 is set at $1050. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not necessarily the rent you will receive; it's the payment standard used by the Housing Choice Voucher Program to determine the maximum allowable rent for subsidized units.
In ZIP 31999, the local median rent is currently listed as N/A. While we don't have a specific dollar amount for comparison, the FMR serves as a benchmark for affordability in the area. The percentage of renters who might qualify for Section 8 assistance is also N/A%, indicating the potential demand for Section 8 rentals in your market.
Regarding property acquisition costs, the average price for a home in ZIP 31999 is N/A. This means that if you're looking to purchase a property specifically for Section 8 tenants, you'll need to ensure that the investment aligns with the rental income you expect to receive. Remember, the FMR is the ceiling for rental rates under the program, so your monthly income will be capped at $1050 per unit, minus any utility allowances and the tenant's portion of the rent.
Before committing to a Section 8 rental property, you must verify that the property meets all HUD (Department of Housing and Urban Development) standards. These standards cover everything from safety and health conditions to the physical condition of the home. Failure to meet these requirements can result in reduced payments or even termination of the lease agreement.
To summarize, while the specific local median rent and the exact percentage of renters qualifying for Section 8 assistance are not available, the FMR of $1050 provides a clear guideline for maximum allowable rent. Ensure your property complies with HUD standards to avoid complications and to guarantee a steady income stream.
Data Sources: FMR data from HUD (2027).
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.