Location: Johnson County, GA | Metro: Emanuel County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The ZIP code 31049 presents a dynamic rental market that reflects a balance between supply and demand, albeit with indications that demand might be slightly stronger. The Fair Market Rent (FMR) for the area is set at $990 for fiscal year 2026, which is higher than the current market rent of $625 based on Census ACS data. This suggests that while there is ample supply to meet current needs, there's also a potential for upward pressure on rents as the market adjusts to the FMR.
A median home value of $152,111 indicates that homeownership is relatively affordable, but the rental market dynamics show a different story. With a 20.4% renter share, it's clear that a significant portion of the population prefers or is compelled to rent rather than buy. This figure implies that there is ongoing long-term housing pressure, as a notable percentage of residents are renters, which can lead to increased competition for rental properties and potentially higher rents over time.
The lack of specific data on price-cut share and days on market (DOM) makes it difficult to pinpoint the exact supply-demand relationship. However, given the discrepancy between the FMR and the current market rent, we can infer that landlords may find opportunities to gradually increase their rental rates to align with the FMR without losing tenants. This scenario points towards a market where demand is steady, and landlords have some leverage to adjust pricing.
In summary, ZIP 31049 is characterized by a rental market that is moving towards alignment with the FMR, driven by a substantial renter population and relatively low market rents. The dynamics suggest a market where demand could be outpacing supply, leading to potential increases in rental rates. Landlords and small-portfolio investors should monitor these trends closely, as they indicate a rental market with room for growth and adjustment.
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.