Location: Morgan County, GA | Metro: Morgan County, GA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $2,180 |
| 5 Bedrooms | $2,529 |
| 6 Bedrooms | $2,832 |
| 7 Bedrooms | $3,059 |
| 8 Bedrooms | $3,212 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 30623 reveals a unique balance between yield and stability that presents opportunities for both high-risk and steady-cashflow investment strategies.
On the yield axis, the Fair Market Rent (FMR) for 2024 stands at $1340. This figure is crucial for understanding potential rental income under the Section 8 program. However, the lack of data on market rents and home values suggests that there might be limited information on how this compares to non-subsidized markets, which could imply either a niche or less competitive area for traditional rentals.
Moving to the stability axis, the ZIP code shows that only 8.8% of residents are renters, indicating a predominantly owner-occupied community. This low percentage of renters can suggest lower demand for rental properties, including those under the Section 8 program. The absence of data on days on market (DOM) and the median income of $61,786 provide a partial picture but hint at the economic conditions of the area. A higher income level generally supports greater stability in rent payments, though the low percentage of renters remains a critical factor.
Given these figures, ZIP 30623 does not fit neatly into a high-yield/low-stability flip-style market nor a steady-cashflow zone. Instead, it represents a middle-ground scenario where the yield is moderate due to the FMR being the primary data point, while stability is somewhat compromised by the low percentage of renters but bolstered by the median income figure.
To conclude, for landlords and small-portfolio investors, ZIP 30623 offers a balanced opportunity. The $1340 FMR provides a solid base for rental income, but the relatively low demand for rentals and the incomplete dataset mean that investors should proceed with caution. The presence of a stable income level among residents mitigates some risk, making it a viable option for those seeking a moderate-yield, moderately-stable investment environment.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
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.