Location: Murray County, GA | Metro: Murray County, GA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 30724 in Murray County, Georgia, reveals that the HUD Fair Market Rent (FMR) for the area stands at $890 for the fiscal year 2024. This figure represents the maximum amount that voucher holders can pay toward their monthly rent. However, due to the lack of current market rent data, it's challenging to provide a direct comparison between the HUD FMR and the actual market rates.
In ZIP 30724, voucher tenants typically cashflow at the HUD FMR rate, meaning that landlords receive sufficient funds from the vouchers to cover the costs of maintaining the property without relying on additional rent from the tenant. This scenario is common when the HUD FMR aligns closely with the lower end of the market rent spectrum, which often occurs in less competitive rental markets such as those found in rural areas.
The median home value for ZIP 30724 is not currently available, making it difficult to calculate an exact rent-to-price ratio. However, this ratio is crucial for understanding the relative affordability of renting versus buying. If the median home value were known, it would help determine how much more attractive renting might be compared to homeownership, potentially influencing the demand for rental properties.
Similarly, the median Days on Market (DOM) and the percentage of homes that experienced price cuts are also unavailable. These metrics are important for assessing the health of the local housing market and how quickly properties are selling. A high DOM or a significant share of price cuts could indicate a slower market, which might affect the ability of voucher holders to find suitable housing.
The strongest investor angle in ZIP 30724 is likely to be cashflow. With voucher tenants paying the HUD FMR, landlords can expect steady, government-backed income with minimal risk of default. This makes the investment particularly appealing for those seeking reliable rental income in a stable market 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.