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Chatham County/Tybee Island/31328

31328

ZIPSAFMR
Chatham County, GA
Zillow

ZIP Investment Score

37Below average

095130300
BRFMR
Eff. Rent
0 BR$1,460$1,460
1 BR$1,520$1,520
2 BR$1,660$1,660
3 BR$2,160$2,160
4 BR$2,460$2,460
5 BR$2,829Not available
6 BR$3,253Not available
7 BR$3,741Not available
8 BR$4,303Not available

Purchase Price Calculator

Maximum purchase price
$184,759

Cost breakdown

+Likely effective rent$1,660
HUD FMRUsed$1,660
Market rentN/A
Est. payment standardN/A
-Principal and interest-$934
Loan amount$147,807
Down payment$36,952
Rate6.50%
Term30 years
-Operating costs-$526
Property taxes-$185
Insurance-$175
Utilities$0
HOA$0
Management-$166
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,702(72.3% ROI)
Projected value
$198,965
Return breakdown
Property appreciation+$14,206
Loan principal paid down+$5,296
Rental cash flow+$7,200
5-year hold
+$45,722(123.7% ROI)
Projected value
$209,038
Return breakdown
Property appreciation+$24,279
Loan principal paid down+$9,443
Rental cash flow+$12,000
10-year hold
+$98,250(265.9% ROI)
Projected value
$236,507
Return breakdown
Property appreciation+$51,748
Loan principal paid down+$22,502
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 31328 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 31328 (Tybee Island, GA) is $1,660 a month. That is up 5.1% from $1,580 in FY 2026. Tybee Island is in the Savannah, GA MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,679. Among 23 ZIP codes in Chatham County, 31328 has the 16th-highest two-bedroom rent (county range $1,520–$2,050). The median county two-bedroom FMR in Georgia is $1,058, so ZIP 31328 is 57% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 31328
BedroomsFY 2027Change90–110% range
Studio$1,460+6.6%$1,314–$1,606
1BR$1,520+5.6%$1,368–$1,672
2BR$1,660+5.1%$1,494–$1,826
3BR$2,160+2.9%$1,944–$2,376
4BR$2,460+2.5%$2,214–$2,706

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 31328
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,460$1,520$1,660$2,160$2,460
FY 2026$1,370$1,440$1,580$2,100$2,400
FY 2025$1,350$1,450$1,610$2,170$2,500
FY 2024$1,280$1,380$1,550$2,110$2,470
FY 2023$1,170$1,260$1,420$1,940$2,270

Two-bedroom rent in nearby Chatham County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 31328
31302$1,520−8.4%
31312$1,770+6.6%
31322$1,970+18.7%
31328Current$1,660—
31401$2,010+21.1%
31402$1,700+2.4%
31403$1,700+2.4%
31404$1,530−7.8%
31405$1,620−2.4%
31406$1,650−0.6%
31407$2,050+23.5%
31408$1,520−8.4%

Questions about ZIP 31328 rents

How much will Section 8 pay for a two-bedroom in ZIP 31328?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,679, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,511 to $1,847 a month; under the ZIP-level Small Area FMR of $1,660 it would be $1,494 to $1,826. 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 31328 in?

ZIP 31328 is in the Savannah, GA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,679.

How much did fair market rent change in ZIP 31328 for FY 2027?

The two-bedroom FMR rose 5.1%, from $1,580 in FY 2026 to $1,660 in FY 2027. Since FY 2023 it has risen 16.9%.

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

County fair market rentTybee Island, GA fair market rentGA statewide rentsWhat is SAFMR?Data sources