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 median home value in ZIP 30164, located in Rome, GA MSA metro, is $170,000 according to recent data. This figure provides a basis for calculating the rent-to-price ratio, which is crucial for understanding the dynamics between homeownership and renting in this area. However, specific market rent figures for ZIP 30164 were not available at the time of this analysis.
The HUD Fair Market Rent (FMR) for ZIP 30164 in fiscal year 2024 is set at $1,100. Given that we do not have precise market rent data, it's reasonable to infer that voucher tenants might cashflow at FMR in this area, assuming the HUD estimate is close to actual market conditions. In markets where the FMR is below the prevailing rents, voucher tenants often require premium units to cover the gap, but this does not appear to be the case here based on the available HUD FMR.
The lack of detailed market rent data makes it challenging to provide a comprehensive rent-to-price ratio analysis. However, the median home value suggests that this area could be attractive for investors looking for stability, especially if the market rent is indeed close to the HUD FMR. Stability in this context means consistent demand for rental properties due to a mix of economic factors, including employment rates and population trends.
In conclusion, while there is limited data on market rents, the HUD FMR of $1,100 aligns well with the potential for cashflow in this area, making it a strong investment option for those seeking stable returns. The median home value of $170,000 further supports this stability, indicating a balanced market where both buying and renting remain viable options for residents.
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.