Location: Thomas County, GA | Metro: Grady County, GA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,370 | $189,181 | 0.72% | D |
U.S. Census Bureau data (2024)
The ZIP code 39828, with a population of 15,423, is characterized by a significant rental market presence, with 39.7% of residents being renters. This indicates that the area has a substantial tenant pool, which can be beneficial for landlords and small-portfolio investors looking to attract Section 8 tenants. The median household income in this ZIP is $53,901, suggesting a middle-income community.
The market rent for the area stands at $776, which represents approximately 14.4% of the median household income. This percentage is relatively low, indicating that the majority of residents could afford the market rent without assistance. However, it also highlights the potential for a deep voucher demand among lower-income households seeking affordable housing options.
To put this into perspective, the Fair Market Rent (FMR) for the ZIP code 39828, as determined by HUD for fiscal year 2026, is $1,040. This means that the market rent of $776 is significantly below the FMR, creating an opportunity for landlords who can accommodate Section 8 tenants. The difference between the market rent and the FMR suggests that there is room for landlords to potentially increase rents while still remaining within the bounds of the voucher program.
A landlord in ZIP 39828 should expect a tenant profile that includes individuals and families who rely on Section 8 vouchers to make their housing payments. These tenants will likely have a total income below the median, but sufficient to cover the gap between the voucher amount and the actual rent. Given the income levels and the disparity between market rent and FMR, landlords may find a steady stream of applicants who need the support of housing vouchers to secure their living space.
In summary, ZIP 39828 is a renter-heavy area with strong potential for Section 8 voucher utilization. The current market conditions favor landlords who can leverage the voucher system to fill their properties with stable, reliable tenants.
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.