Location: Decatur County, GA | Metro: Decatur County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The ZIP code 39815 presents several challenges for landlords considering participation in the Section 8 program. First, tenant turnover is likely to be higher due to the disparity between the market rent of $931 and the Fair Market Rent (FMR) of $1,070 for the fiscal year 2026 in the metropolitan area. This gap suggests that tenants who qualify for Section 8 vouchers may struggle to find housing outside the program, leading to higher churn rates as they seek more affordable options.
Vacancy exposure is another concern. With an average days on market (DOM) figure not available, it's difficult to predict how quickly units can be filled. However, the typical home value of $105,998 and median income of $45,800 indicate a market where homeownership is less accessible, potentially increasing the number of renters but also the competition for rental properties among those with limited financial resources.
Deferred maintenance is a significant risk given the lower median income compared to home values. Landlords may face difficulties ensuring that properties meet the required standards without substantial upfront investments, which might not be fully covered by the rental subsidies.
On the positive side, the high renter share of 17.4% typically translates into robust demand for rental properties, including those accepting Section 8 vouchers. This strong rental market can mitigate some of the risks associated with tenant turnover and vacancy rates, as there will likely be a steady stream of potential tenants.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.