Location: Murray County, GA | Metro: Murray County, GA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 30751, located in Murray County, Georgia, reveals several key points that are crucial for landlords and small-portfolio investors.
The rent math does not work in favor of landlords at the current Fair Market Rent (FMR) of $900 for the fiscal year 2024. Since there is no available data on market rent, it's impossible to make a direct comparison. However, the FMR is set to ensure affordability for low-income families, often falling below the actual market rates. This means landlords might find it challenging to cover their costs and generate profit solely based on the FMR.
Regarding acquisition affordability, the lack of specific data on the median home value, days on market (DOM), and the percentage of homes requiring price cuts makes it difficult to provide a precise assessment. Without these figures, landlords cannot accurately gauge the cost of acquiring properties in this area or understand how quickly they can expect to sell if needed.
Tenant demand is relatively stable in ZIP 30751. With a population of 335, and 34.5% of residents being renters, there is a consistent base of potential tenants. However, the small size of the population limits the pool of prospective renters, which could impact the speed of finding new tenants and the overall occupancy rate.
In conclusion, while there is a steady demand for rental housing in ZIP 30751, the lack of detailed market data complicates the decision-making process for landlords and small-portfolio investors. The current FMR of $900 poses a challenge for profitability, and without clear indicators of property values and sales trends, assessing the feasibility of property acquisitions remains uncertain. Landlords should proceed with caution and seek additional local insights before making investment decisions in this area.
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.