Location: Telfair County, GA | Metro: Telfair County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP code 31055 provides a critical perspective for landlords and small-portfolio investors considering this area. Based on the Fair Market Rent (FMR) for a 2-bedroom apartment set at $970 annually for fiscal year 2026, and the market rent at $722 according to the Census ACS, we can derive two distinct gross-yield scenarios.
First, using the FMR of $970, the annualized rental income for a 2-bedroom unit would be $11,640 ($970 x 12 months). Given the median home value of $114,506 in ZIP 31055, the implied gross yield from FMR is approximately 10.16%. This calculation is derived by dividing the annual rental income by the median home value: $11,640 / $114,506 = 0.1016 or 10.16%.
Second, utilizing the market rent figure of $722, the annualized rental income would be $8,664 ($722 x 12 months). When compared to the median home value of $114,506, the implied gross yield based on market rent is around 7.56%. This is calculated by dividing the annual rental income by the median home value: $8,664 / $114,506 = 0.0756 or 7.56%.
The significant difference between these two gross yields—10.16% versus 7.56%—highlights the potential disparity in rental income when comparing government-subsidized rates to market-driven rates. The 10.16% gross yield from FMR appears more attractive at first glance; however, it's important to consider the practical realities of the rental market in ZIP 31055.
A 41.0% renter density suggests a substantial portion of the population is already租房市场。然而，由于缺乏关于上市天数（DOM）的具体数据，我们无法准确评估市场租赁周期的长度。尽管如此，我们可以合理地假设，在一个租户密度为41.0%的地区，市场租金更贴近现实情况。因此，基于市场租金的7.56%毛收益率可能是更为实际的投资回报率预期。
投资者应自行计算净经营收入（NOI），但毛收益率的比较应该是明确的。在ZIP代码31055中，Section 8项目的毛收益率为10.16%，而市场租金则对应7.56%的毛收益率。选择哪个数字作为投资决策的基础取决于投资者对政府补贴项目与纯粹市场驱动租赁环境的看法。
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.