Location: Taliaferro County, GA | Metro: Taliaferro County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The Section 8 cap rate analysis for ZIP code 30664 presents a unique challenge due to limited data availability. The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $970 per month. To annualize this figure, we multiply it by 12, resulting in an annual rent of $11,640.
The median home value in ZIP 30664 is not available, which complicates the direct calculation of a cap rate based on property values. However, we can still derive a rough implied gross yield using the FMR. Assuming a property value of $100,000 for a two-bedroom unit (a hypothetical figure for illustrative purposes), the implied gross yield would be 11.64%, calculated as $11,640 divided by $100,000. This scenario is purely speculative without the actual median home value.
Given that the market rent is also not available, we cannot directly compare the Section 8 rent to the market rent. However, if we were to assume a typical market rent for a similar property in the area, say $1,200 per month, the annualized market rent would be $14,400. With the same assumed property value of $100,000, the implied gross yield for the market rent would be 14.40%. This represents a higher potential return compared to the Section 8 scenario.
The renter density in ZIP 30664 is stated as 0.0%, which suggests that rental properties, including those participating in the Section 8 program, are not prevalent in this area. Additionally, the days on market (DOM) is not available, making it difficult to assess how quickly properties might turn over under the Section 8 program. These factors indicate that the actual performance of Section 8 properties in this ZIP code could vary significantly from the implied yields calculated above.
In conclusion, while the hypothetical gross yield for a two-bedroom unit under Section 8 in ZIP 30664 is 11.64%, the lack of specific market rent and median home value data makes it challenging to provide a precise cap rate. The market rent scenario, when assuming a $1,200 monthly rent, offers a higher gross yield of 14.40%. Given the low renter density and unknown DOM, the market rent scenario is likely more realistic for most investors, as it reflects a broader demand for rentals in the area. However, the decision to participate in Section 8 should consider other factors such as tenant stability and government subsidies.
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.