Location: Dooly County, GA | Metro: Dooly County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The rent math in ZIP code 31007 does not work favorably for landlords. The Fair Market Rent (FMR) set at $970 for the fiscal year 2026 is significantly higher than the current market rent of $695 based on Census ACS data. This discrepancy suggests that landlords might struggle to charge the FMR without making adjustments to their property offerings or amenities.
Acquisition of properties in this area is relatively affordable, with a median home value of $111,030. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts indicates uncertainty about how quickly homes sell and whether they require reductions. Without these metrics, it's challenging to fully assess the ease of acquiring properties at fair market values.
Tenant demand is present but limited by the size of the local population. With 887 residents and a 36.6% renter share, there are approximately 324 potential renters. This number is modest and could affect the pool of tenants available to fill rental units, especially considering the low population base.
Verdict: ZIP code 31007 presents a mixed picture for landlords and small-portfolio investors. While property acquisition is affordable, the gap between the FMR and market rent poses a challenge. Additionally, the limited tenant demand due to a small population base means competition among landlords could be intense. Investors should proceed with caution, focusing on cost-effective acquisitions and realistic pricing strategies.
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.