Location: Rome, GA | Metro: Rome, GA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
The HUD Fair Market Rent (FMR) for ZIP 30129 in Rome County, Georgia, for fiscal year 2024 is set at $1,100. This figure represents the maximum amount that voucher holders can pay for housing. However, the current market rents in the area range significantly higher, with many properties listed between $1,260 and $2,225 per month.
Voucher tenants in ZIP 30129 will cashflow only with premium units priced at the lower end of the market range. For instance, a property priced at $1,260 per month would still allow for positive cashflow when accounting for the FMR. However, the majority of units priced above $1,334 would result in negative cashflow without additional subsidies or cost savings.
The median home value in the area is not available, but based on the rental prices, it's clear that the rent-to-price ratio is favorable for renters over buyers. This dynamic suggests that the rental market is strong, making it a good investment for landlords and small-portfolio investors.
The days on market (DOM) and price-cut share percentages are not specified, but given the high demand for rental properties, it's likely that turnover is relatively quick. The strong rental market indicates that investors should focus on cashflow rather than appreciation or stability.
The strongest investor angle in ZIP 30129 is cashflow, especially with units priced below the average market rate.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.