Section 8 Fair Market Rent (FMR) for ZIP 39662 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The economics of Section 8 housing in ZIP code 39662 are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) is set at $970 per month for fiscal year 2026. This figure is specific to this ZIP code and reflects the rental assistance payment standard for the area.

A landlord might wonder how much they will actually receive from a Section 8 voucher once all factors are considered. Here's a breakdown:

• The tenant is responsible for paying 30% of their adjusted income toward rent. If the tenant's adjusted income is $1,000 per month, they would pay $300 towards rent.
• The utility allowance varies but typically covers a portion of the tenant's monthly utilities. Assuming an average utility allowance of $150, the total amount covered by the voucher would be $970 minus the tenant's contribution ($300) plus the utility allowance ($150).

In this scenario, the landlord would receive $820 per month from the voucher program ($970 - $300 + $150). This amount is guaranteed by the government and is not subject to market fluctuations.

However, since the local market rent data is not available, it's important to understand that if the market rent for a two-bedroom apartment exceeds the SAFMR of $970, the landlord will face a reimbursement gap. Conversely, if the market rent is below $970, the landlord could see a surplus.

To illustrate the potential gap or surplus, let's assume a hypothetical market rent for a two-bedroom apartment in ZIP 39662. If the market rent is $1,100 per month, the landlord would have a reimbursement gap of $280 per month ($1,100 - $820). On the other hand, if the market rent is $850 per month, the landlord would have a surplus of $70 per month ($820 - $850).

Landlords should consider these factors when deciding whether to participate in the Section 8 program. It's crucial to know the actual market rents in your area to accurately assess the financial impact. In ZIP 39662, with a SAFMR of $970 for a two-bedroom unit, the typical reimbursement gap or surplus will depend on the prevailing market conditions.

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.