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 market in ZIP code 30162, located in Georgia, presents a dynamic scenario that can be inferred from the current Fair Market Rent (FMR) of $1100 for the fiscal year 2024. Despite the lack of recent market rent data, the N/A designation for price-cut share and days on market (DOM) suggests a stable environment where neither significant over-supply nor under-supply is evident. This stability, however, does not necessarily indicate equilibrium between supply and demand.
The absence of a median home value figure further complicates the assessment but points towards an area potentially less focused on homeownership compared to other regions. The N/A% renter share, while not providing a precise number, hints at a substantial reliance on rental properties, which could translate into ongoing long-term housing pressures. Landlords and small-portfolio investors should remain vigilant to changes in this metric, as it can signal shifts in the local economy and population trends.
The current FMR sets a benchmark for affordable housing standards, guiding landlords on pricing strategies for subsidized units. However, the lack of updated market rent data means that landlords must rely on historical trends and regional comparisons to gauge the true rental market conditions. A strong FMR, such as the one observed here, often indicates a region where rental demand is robust, possibly due to employment opportunities or lifestyle preferences favoring renting over buying.
In summary, ZIP 30162 appears to be a market characterized by a reliance on rental housing, with the potential for long-term housing pressures. The stability implied by the missing price-cut share and DOM figures suggests a balanced market, though this balance could shift with economic changes or new developments. Investors should focus on understanding the local rental market dynamics and the role of affordable housing to make informed decisions.
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.