FMR is near market; voucher and private rents are aligned.
0.94
1 BR
1 BR
1.14ratio
FMR$1,390
Market$1,220
vs market+$170
FMR is above market; underwrite to market rent.
1.14
2 BR
2 BR
1.06ratio
FMR$1,510
Market$1,430
vs market+$80
FMR is near market; voucher and private rents are aligned.
1.06
3 BR
3 BR
1.06ratio
FMR$1,800
Market$1,700
vs market+$100
FMR is near market; voucher and private rents are aligned.
1.06
4 BR
4 BR
1.04ratio
FMR$2,140
Market$2,060
vs market+$80
FMR is near market; voucher and private rents are aligned.
1.04
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 30015 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 30015 (Covington, GA) is $1,510 a month. That is down 3.8% from $1,570 in FY 2026. Covington is in the Atlanta-Sandy Springs-Roswell, GA HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 13 ZIP codes in Newton County, 30015 has the 6th-highest two-bedroom rent (county range $1,030–$1,950). The median county two-bedroom FMR in Georgia is $1,058, so ZIP 30015 is 43% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 30015
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,370
$1,330
−2.9%
$1,197–$1,463
1BR
$1,430
$1,390
−2.8%
$1,251–$1,529
2BR
$1,570
$1,510
−3.8%
$1,359–$1,661
3BR
$1,880
$1,800
−4.3%
$1,620–$1,980
4BR
$2,250
$2,140
−4.9%
$1,926–$2,354
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 30015
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,330
$1,390
$1,510
$1,800
$2,140
FY 2026
$1,370
$1,430
$1,570
$1,880
$2,250
FY 2025
$1,390
$1,450
$1,600
$1,930
$2,320
FY 2024
$1,400
$1,440
$1,620
$1,960
$2,380
FY 2023
$1,190
$1,210
$1,370
$1,670
$2,040
Two-bedroom rent in nearby Newton County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 30015?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,510, that basic range is $1,359 to $1,661 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 30015 in?
ZIP 30015 is in the Atlanta-Sandy Springs-Roswell, GA HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in ZIP 30015 for FY 2027?
The two-bedroom FMR fell 3.8%, from $1,570 in FY 2026 to $1,510 in FY 2027. Since FY 2023 it has risen 10.2%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set