Analysis

Atlanta, GA Rent Report: Market Rent vs. HUD Fair Market Rent by ZIP

Oct 9, 20263 min read

The median of the 26 tracked ZIP-level rent indices for Atlanta is $1,897 a month; the newest ZIP observation is July 2026. This is an unweighted summary of ZIP indices, not a citywide rent estimate. ZIP 30340 has the lowest index at $1,489 and ZIP 30309 the highest at $2,300. Unit mix, observation dates and coverage can differ.

Across Fulton County, typical rent is $1,936 as of August 2026. That is up 3.1% from a year earlier and up 13.4% over five years.

HUD's FY2027 Fair Market Rent for a two bedroom in Fulton County is $1,762. HUD marks this area for Small Area FMRs; check the applicable ZIP and housing authority schedule. In 13 of 26 tracked Atlanta ZIPs, the two-bedroom HUD reference exceeds the all-size rent index. This comparison does not establish what a voucher tenancy will pay for a particular unit.

This report compares ZIP-level rent indices and bedroom-specific HUD references for Atlanta, GA. The tables read our loaded Zillow and HUD data. Neither measure establishes an individual property's market rent or an approved voucher rent.

Market rent and voucher rent by ZIP code in Atlanta

Each row is one tracked ZIP code. The last column compares a two-bedroom HUD reference with Zillow's all-size rent index. A positive number is not a matched-unit premium or proof that a voucher tenancy can support more rent. Check bedroom-matched comparable rentals and the authority's adopted schedule separately.

ZIP codeAll-size ZORIZORI monthHUD 2BR referenceHUD 3BR referenceHUD basis / year2BR reference vs ZORI
30303$2,016July 2026$1,910$2,280ZIP SAFMR / FY2027-5.3%
30305$2,179July 2026$2,240$2,670ZIP SAFMR / FY2027+2.8%
30306$1,990July 2026$2,150$2,560ZIP SAFMR / FY2027+8.0%
30307$2,109July 2026$2,220$2,650ZIP SAFMR / FY2027+5.3%
30308$2,034July 2026$2,230$2,670ZIP SAFMR / FY2027+9.6%
30309$2,300July 2026$2,640$3,150ZIP SAFMR / FY2027+14.8%
30310$1,940July 2026$1,310$1,560ZIP SAFMR / FY2027-32.5%
30311$1,983July 2026$1,340$1,600ZIP SAFMR / FY2027-32.4%
30312$1,925July 2026$2,170$2,590ZIP SAFMR / FY2027+12.7%
30313$1,879July 2026$1,860$2,220ZIP SAFMR / FY2027-1.0%
30314$1,610July 2026$1,210$1,440ZIP SAFMR / FY2027-24.8%
30315$1,884July 2026$1,200$1,430ZIP SAFMR / FY2027-36.3%
30316$1,935July 2026$1,820$2,170ZIP SAFMR / FY2027-5.9%
30317$2,025July 2026$1,860$2,220ZIP SAFMR / FY2027-8.1%
30318$1,826July 2026$1,850$2,220ZIP SAFMR / FY2027+1.3%
30324$1,673July 2026$2,410$2,870ZIP SAFMR / FY2027+44.1%
30326$1,910July 2026$2,340$2,790ZIP SAFMR / FY2027+22.5%
30327$1,789July 2026$2,190$2,610ZIP SAFMR / FY2027+22.4%
30329$1,759July 2026$2,130$2,540ZIP SAFMR / FY2027+21.1%
30331$1,790July 2026$1,440$1,730ZIP SAFMR / FY2027-19.6%
30336$1,550July 2026$1,530$1,820ZIP SAFMR / FY2027-1.3%
30340$1,489July 2026$1,730$2,060ZIP SAFMR / FY2027+16.2%
30345$1,614July 2026$1,930$2,300ZIP SAFMR / FY2027+19.6%
30349$1,817July 2026$1,500$1,790ZIP SAFMR / FY2027-17.4%
30354$1,835July 2026$1,440$1,720ZIP SAFMR / FY2027-21.5%
30363$2,270July 2026$2,170$2,590ZIP SAFMR / FY2027-4.4%

Market rent is the Zillow Observed Rent Index, which covers all unit sizes. Dates and HUD geography are shown for each row.The percentage compares a bedroom-specific HUD reference with an all-size index; it is not a matched-unit premium, an adopted payment standard or an approved rent. Check bedroom-matched comps, the authority's schedule and utility allowance before underwriting.

For the plain average and the full ZIP list, see average rent in Atlanta by ZIP code.

HUD Fair Market Rents for Fulton County

HUD Fair Market Rent is a gross-rent reference that includes tenant-paid utilities. It is not the housing authority's adopted payment standard or an approval for a particular unit. Confirm the applicable schedule, utility allowance and rent-reasonableness review with the administering authority.

Unit sizeFY2027 Fair Market RentChange from FY2026
Studio$1,554-2.0%
1 bedroom$1,619-2.5%
2 bedroom$1,762-3.2%
3 bedroom$2,099-3.8%
4 bedroom$2,493-4.3%

Fulton County, HUD fiscal year 2027. Source: HUD Fair Market Rents. These are the latest figures loaded into RentalCalcs, not an authority's adopted payment standards or a rent approval.

If you have not worked with these numbers before, how Section 8 rent is calculated walks through payment standards, utility allowances and the tenant's share.

How rents in Fulton County have moved

Observation monthAll-home-types ZORIChange from prior row
December 2015$1,152Not available
December 2016$1,230+6.8%
December 2017$1,316+7.0%
December 2018$1,417+7.7%
December 2019$1,472+3.8%
December 2020$1,517+3.1%
December 2021$1,799+18.6%
December 2022$1,870+4.0%
December 2023$1,841-1.6%
December 2024$1,837-0.2%
December 2025$1,901+3.5%
August 2026$1,936+1.9%

Fulton County typical rent, last published month of each year. Source: Zillow Observed Rent Index (all home types, smoothed and seasonally adjusted), refreshed monthly. A partial-year observation compared with the prior December is not a same-month year-over-year change.

What this means if you own a rental in Atlanta

  • Check the local comparison set. The highest tracked ZIP index is 54.5% above the lowest. Check unit type and bedroom-matched comps before using that spread to price a property.
  • Verify the voucher calculation independently. HUD references and all-size ZORI describe different things. Obtain the housing authority's payment standard and utility allowance, then check rent reasonableness for the actual unit. The table cannot determine a voucher premium, turnover rate or collection outcome.
  • Test the deal without future rent increases. County rents are up 3.1% from a year ago. That observation does not establish the increase available on a particular lease. Compare a flat-rent case before choosing a growth assumption.

To test a specific property, run it through the Section 8 rent analyzer, which compares voucher rent and market rent for your ZIP and unit size. The Georgia HUD-to-rent-index comparison provides broader research context; its ratios do not establish property-level premiums.

Where these numbers come from

  • Market rent: the Zillow Observed Rent Index by ZIP code, refreshed monthly. It blends all unit sizes, so compare it with voucher figures as a guide and not as a like for like two bedroom rent.
  • Fair Market Rents and Small Area FMRs: HUD User, published each fiscal year.
  • County rent history: Zillow rent data, last reading of each calendar year.

Confirm the current payment standard, utility allowance and applicable rules with the administering housing authority before underwriting a voucher tenancy. Use matched comparable rentals for the market-rent assumption.

Share:

Get new articles and market updates

Investing guides and market data, straight to your inbox. Unsubscribe anytime.

Related Articles

Ready to analyze your next deal?

Our calculators help you make data-driven investment decisions in minutes.

Explore Tools