Location: Columbus, GA | Metro: Columbus, GA-AL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
24.0% of the population in ZIP code 36871 are renters, indicating a significant demand for rental properties. With a Fair Market Rent (FMR) of $910 for zip code 36871 as of fiscal year 2024, landlords can expect to receive this amount as a reimbursement for participating in the Section 8 program. Comparatively, the market rent stands at $1,411 according to Census ACS data, suggesting that landlords could potentially earn more by renting directly to tenants without the voucher program. The median home value in the area is $190,794, which reflects the overall property values and can be used to gauge potential appreciation rates over time. Additionally, the median income in ZIP 36871 is $51,490, providing insight into the economic conditions and the ability of residents to afford higher rents. Although the days on market (DOM) and the percentage of price-cut share are not available, these figures would typically help in understanding how quickly properties are rented out and the competitiveness of the rental market. Based on the FMR and market rent, landlords should carefully consider their options; while Section 8 provides a guaranteed income source, it is lower than the market rate. For small-portfolio investors, the decision might lean towards market rent given the higher return, but Section 8 can offer stability and reduced vacancy risks. In conclusion, landlords in ZIP 36871 can participate in Section 8, but they should also explore opportunities to rent above the FMR where feasible.
36871 landlords should weigh the benefits of guaranteed $910 monthly payments against the possibility of securing $1,411 market rent, considering the local median income of $51,490.
Section 8 verdict: Acceptable for stable income, but market rent offers better returns.
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.