For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 31704 (Albany, GA) is $1,020 a month. That is unchanged from FY 2026. Albany is in the Albany, 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 $1,103. Among 13 ZIP codes in Dougherty County, 31704 is tied for the 10th-highest two-bedroom rent (county range $1,020–$1,350). The median county two-bedroom FMR in Georgia is $1,058, so ZIP 31704 is 4% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 31704
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$870
$870
0.0%
$783–$957
1BR
$910
$910
0.0%
$819–$1,001
2BR
$1,020
$1,020
0.0%
$918–$1,122
3BR
$1,380
$1,390
+0.7%
$1,251–$1,529
4BR
$1,670
$1,680
+0.6%
$1,512–$1,848
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 31704
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$870
$910
$1,020
$1,390
$1,680
FY 2026
$870
$910
$1,020
$1,380
$1,670
FY 2025
$810
$840
$950
$1,280
$1,540
FY 2024
$840
$850
$980
$1,310
$1,590
FY 2023
$730
$740
$870
$1,140
$1,390
Two-bedroom rent in nearby Dougherty County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 31704?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,103, which applies unless the housing authority uses Small Area FMRs, that basic range is $993 to $1,213 a month; under the ZIP-level Small Area FMR of $1,020 it would be $918 to $1,122. 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 31704 in?
ZIP 31704 is in the Albany, GA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,103.
How much did fair market rent change in ZIP 31704 for FY 2027?
The two-bedroom FMR was unchanged at $1,020 in FY 2027. Since FY 2023 it has risen 17.2%.
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