Section 8 Fair Market Rent (FMR) for ZIP 39192 - 2027

Investment Score for ZIP 39192

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$720
1 Bedroom	$720
2 Bedrooms	$910
3 Bedrooms	$1,190
4 Bedrooms	$1,230
5 Bedrooms	$1,427
6 Bedrooms	$1,598
7 Bedrooms	$1,726
8 Bedrooms	$1,812

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,190	$138,860	0.86%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the available data, the Fair Market Rent (FMR) for ZIP 39192 in fiscal year 2024 is set at $900. However, the current market rent for the area is reported to be within the range of $500-$749 per month, primarily for 3+ bedroom units. This indicates that the FMR exceeds the market rent by approximately $151 to $400, depending on the specific unit type. In percentage terms, the FMR is about 20% to 67% higher than the current market rent.

The gap between the FMR and the market rent suggests that landlords participating in the Section 8 program can expect a higher yield compared to renting out their properties at market rates. This is because the government subsidy ensures that the rent received is closer to the FMR rather than the lower market rate. Given that only 13.5% of residents in ZIP 39192 are renters, the demand for rental properties might be lower, but the yield from Section 8 tenants compensates for this.

The median home value in the area is $123,039, which provides some context regarding the overall real estate market. With a median income of $48,750, many residents may struggle to afford homeownership, making rental properties an attractive option. However, the disparity between the FMR and the market rent means that landlords must consider the potential cost of housing voucher tenants below open-market rates. Despite this, the guaranteed income through the Section 8 program can offer a stable and potentially higher return on investment than renting at current market rates.

To summarize, the analysis for ZIP 39192 shows that the Section 8 program presents a yield opportunity for landlords. The FMR is significantly higher than the current market rent, allowing for a more profitable venture even though the overall rental demand is relatively low.

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.