Location: Early County, GA | Metro: Clay County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The disparity between the FMR and the market rent is stark. Specifically, the FMR is $501 to $601 higher than the typical market rent, representing a gap of 100.2% to 120.2%. This means that landlords who accept Section 8 vouchers can expect to receive significantly more than what they would get from open-market renters.
In this context, with only 6.9% of residents being renters and a median home value of $166,848, the rental market is relatively small compared to homeownership. The median income of $49,353 further supports the notion that many residents might prefer purchasing homes rather than renting.
The high FMR relative to market rent makes ZIP 39824 a yield play for landlords willing to accept housing vouchers. This is because the government will pay a substantial portion of the rent, which exceeds the typical market rate, providing a higher return on investment.
However, landlords must also be aware of the potential challenges associated with accepting Section 8 tenants. These include stricter regulations, longer vacancy periods due to the voucher application process, and the need to maintain properties to meet certain standards.
Despite these challenges, the financial advantage of receiving a higher rent payment through the Section 8 program can outweigh the drawbacks for many landlords in ZIP 39824.
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.