Location: Calhoun County, GA | Metro: Albany, GA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 39842, located in Dawson, Georgia, within Terrell County, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment is set at $890 for fiscal year 2024. This figure is specific to this ZIP code, reflecting the localized rental market conditions.
Local market rents, according to the Census ACS data, stand at $746 for a similar unit. This indicates that the SAFMR is higher than the average market rent, which can be beneficial for landlords. However, it's important to understand exactly how the reimbursement works.
A Section 8 voucher holder will pay 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,000 per month, the tenant would contribute $300 towards the rent. The remainder, up to the SAFMR of $890, is covered by the housing authority. For instance, if the total rent is $890, the landlord would receive $590 from the housing authority, plus any additional utility allowances.
The utility allowance varies but typically adds around $100-$150 to the total reimbursement. Therefore, the landlord might expect a total reimbursement of $690-$740 per month, depending on the specific utility allowance applied. This amount covers the tenant’s contribution and the utility allowance.
To summarize, in ZIP 39842, the typical reimbursement for a two-bedroom apartment would be $690-$740, leaving a surplus compared to the local market rent of $746. This means landlords could potentially see a surplus of $34-$84 per month when renting to a Section 8 tenant, assuming they charge the SAFMR rate and the tenant's portion plus utility allowance equals the maximum reimbursement limit.
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.