Location: Putnam County, GA | Metro: Atlanta-Sandy Springs-Roswell, GA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
ZIP code 31038, located within Putnam County, GA, exhibits characteristics that position it as a value pocket within its metro area. The Fair Market Rent (FMR) for ZIP 31038 stands at $1210 for fiscal year 2024, which is notably lower than the typical market rents in other Putnam County ZIP codes where such data is available. Although the specific market rent for 31038 is not provided, the significant gap between the FMR and the median home value of $235,845 suggests a substantial difference between rental costs and property prices.
The renter share of 31038 is 35.8%, indicating a notable portion of residents who prefer or require renting over owning their homes. This percentage is relatively high compared to many ZIP codes in Putnam County, where owner-occupied housing typically dominates. A high renter share combined with a below-average home value often points to an area where Section 8 vouchers are prevalent, making it attractive for tenants seeking affordable housing options.
In summary, ZIP 31038 appears to be a value pocket due to its lower FMR and high renter share. For landlords and small-portfolio investors, this ZIP code represents an opportunity to serve a significant number of renters with properties priced within the bounds of Section 8 guidelines. It's important to note that while the market rent for 31038 is not specified, the existing data implies a potential sweet spot for Section 8 investments, given the affordability of the area and the strong demand for rental units.
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.