Section 8 Fair Market Rent (FMR) for ZIP 39772 - 2027

Investment Score for ZIP 39772

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

Investment Analysis by Bedroom Size

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The economics of Section 8 housing in ZIP code 39772 are defined by the SAFMR (Small Area Fair Market Rent) rates set by the U.S. Department of Housing and Urban Development (HUD). For a two-bedroom apartment in this ZIP code, the SAFMR for fiscal year 2026 is $870. This figure represents the maximum amount that HUD will reimburse landlords for renting out a unit under the Section 8 program.

In contrast, the local market rent for a two-bedroom apartment in ZIP 39772 is significantly lower at $594, based on data from the Census Bureau's American Community Survey (ACS).

To understand how these figures impact a landlord, consider the following breakdown:

• The tenant is responsible for paying 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,000 per month, the tenant would pay $300.
• Housing authorities also provide a utility allowance, which can vary but typically ranges from $100 to $200 per month. For simplicity, let's use an average utility allowance of $150.

This means that the total reimbursement a landlord can expect from the housing authority and the tenant for a two-bedroom apartment is $1,320 ($870 from the housing authority and $300 from the tenant plus $150 utility allowance).

However, since the local market rent is only $594, the actual amount a landlord would receive is capped at this market rate. Therefore, the effective reimbursement for a landlord participating in Section 8 for a two-bedroom unit in ZIP 39772 is $594.

The reimbursement gap, which is the difference between the SAFMR and the local market rent, is $276 per month. This gap means that landlords are receiving less than the maximum allowable reimbursement under the Section 8 program. In essence, landlords in ZIP 39772 who participate in Section 8 for a two-bedroom apartment will have a surplus of $150 from the utility allowance but a net loss of $276 when comparing the local market rent to the SAFMR.

Landlords should factor in this economic reality when deciding whether to participate in the Section 8 program for properties in ZIP 39772. While the program provides a stable source of rental income, it may not fully cover the costs associated with maintaining rental properties at the SAFMR level.

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.