Location: Macon-Bibb County, GA | Metro: Macon-Bibb County, GA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,020 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,070 | $46,451 | 2.3% | A+ |
| 2BR | $1,210 | $67,366 | 1.8% | A+ |
| 3BR | $1,440 | $129,730 | 1.11% | B |
| 4BR | $1,590 | $201,151 | 0.79% | D |
| 5BR | $1,844 | $240,725 | 0.77% | D |
U.S. Census Bureau data (2024)
The classification of ZIP code 31204 in Macon, GA, on the axes of yield and stability reveals a unique investment scenario. On the yield axis, the Federal Market Rent (FMR) for the fiscal year 2024 is set at $1000, which is notably lower than the market rent of $1,173. This indicates that there is potential for higher rental yields if landlords can secure tenants at the FMR rate. However, the median home value of $117,736 suggests a relatively affordable housing market, which could attract a diverse range of renters, including those who might struggle to meet market rents.
Turning to stability, the data paints a mixed picture. With 57.5% of residents being renters, there is a substantial demand for rental properties. The days on market (DOM) figure of 35 days shows that properties are typically occupied quickly, indicating a strong rental market. However, the average income of $38,784 is relatively low, which could impact the ability of some renters to consistently pay their rent. This poses a risk to long-term cash flow stability.
Given these factors, ZIP 31204 leans towards a high-yield/low-stability market. The disparity between the FMR ($1000) and market rent ($1,173) suggests opportunities for significant rental income, especially when compared to the median home value. Yet, the lower average income and the significant portion of the population that relies on rental assistance indicate a market where tenant turnover and payment issues could be frequent. For landlords and small-portfolio investors, this area offers a chance for above-average returns but requires careful management to mitigate risks associated with tenant instability.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.