FMR is near market; voucher and private rents are aligned.
1.09
2 BR
2 BR
1.08ratio
FMR$1,700
Market$1,580
vs market+$120
FMR is near market; voucher and private rents are aligned.
1.08
3 BR
3 BR
0.99ratio
FMR$2,210
Market$2,230
vs market-$20
FMR is near market; voucher and private rents are aligned.
0.99
4 BR
4 BR
0.94ratio
FMR$2,510
Market$2,670
vs market-$160
FMR is near market; voucher and private rents are aligned.
0.94
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 31402 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 31402 (Savannah, GA) is $1,700 a month. That is unchanged from FY 2026. Savannah 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, 31402 is tied for the 9th-highest two-bedroom rent (county range $1,520–$2,050). The median county two-bedroom FMR in Georgia is $1,058, so ZIP 31402 is 61% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 31402
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,470
$1,500
+2.0%
$1,350–$1,650
1BR
$1,550
$1,560
+0.6%
$1,404–$1,716
2BR
$1,700
$1,700
0.0%
$1,530–$1,870
3BR
$2,260
$2,210
−2.2%
$1,989–$2,431
4BR
$2,580
$2,510
−2.7%
$2,259–$2,761
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 31402
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,500
$1,560
$1,700
$2,210
$2,510
FY 2026
$1,470
$1,550
$1,700
$2,260
$2,580
FY 2025
$1,340
$1,450
$1,600
$2,150
$2,480
FY 2024
$1,190
$1,290
$1,450
$1,970
$2,310
FY 2023
$1,030
$1,120
$1,260
$1,720
$2,010
Two-bedroom rent in nearby Chatham County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 31402?
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 $1,700 it would be $1,530 to $1,870. 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 31402 in?
ZIP 31402 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 31402 for FY 2027?
The two-bedroom FMR was unchanged at $1,700 in FY 2027. Since FY 2023 it has risen 34.9%.
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