Section 8 Fair Market Rent (FMR) for ZIP 39322 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The economics of Section 8 in ZIP code 39322 are defined by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $950 for fiscal year 2026. This figure is specific to this ZIP code, reflecting the localized rental market conditions. Since the local market rent is not available, we'll base our analysis on the SAFMR.

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. For a two-bedroom unit in ZIP 39322, here’s a breakdown:

• Tenant Contribution: Tenants typically pay 30% of their adjusted income towards rent. If a tenant earns $2,000 per month, their contribution would be $600.
• Voucher Payment: The voucher will cover the remaining amount up to the SAFMR. In this case, the voucher would pay $350 ($950 - $600).
• Utility Allowances: Utility allowances are included in the voucher payment but do not increase the overall rent reimbursement. They are designed to help cover the cost of utilities, which can vary based on the tenant's usage.

The SAFMR of $950 is the maximum rent that can be charged for a two-bedroom apartment under the Section 8 program in ZIP 39322. Landlords should ensure that their rents do not exceed this amount to avoid losing the voucher subsidy.

Given the SAFMR and typical tenant contributions, landlords can expect a reimbursement gap or surplus depending on the actual market conditions and their own rent pricing strategies. If the local market rent is higher than $950, landlords might face a gap where they receive less than they could from non-voucher tenants. Conversely, if the market rent is lower, they might benefit from a surplus where the voucher covers more than the typical market rate.

In ZIP 39322, the typical reimbursement gap for a two-bedroom voucher is $600 if the market rent were to match the SAFMR. This means that landlords charging exactly $950 would receive the full SAFMR amount, while those charging below it would see a surplus in their voucher reimbursement compared to the local market rate.

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.