Location: Macon-Bibb County, GA | Metro: Macon-Bibb County, GA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,130 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
The ZIP code 31209 in Macon, GA, presents a unique opportunity for Section 8 real-estate analysts. The Fair Market Rent (FMR) for the area is set at $1160 for FY 2024, indicating a relatively stable rental market.
Based on recent home listings on Zillow, the median home price in the vicinity of ZIP 31209 is around $217,500. This figure provides insight into the local real estate value, although specific data for ZIP 31209 alone is not available. Given the FMR and the median home price, the rental yield can be estimated. Assuming a typical rental property is priced at the median, the annual rent would cover approximately 5.8% of the property value based on the FMR. This suggests a moderate yield compared to other markets.
Regarding stability, while specific figures such as percentage of renters, days on market (DOM), and average income are not provided, the consistent FMR over time and the presence of multiple homes for sale indicate a somewhat stable market. Landlords and small-portfolio investors can expect reliable tenants who are able to pay the stipulated rent under the Section 8 program.
ZIP 31209 does not appear to be a high-yield/low-stability flip-style market. Instead, it leans towards being a steady-cashflow zone, suitable for those looking to invest in properties with predictable returns and a stable tenant base. The lack of significant fluctuations in home prices and rental rates supports this classification.
To summarize, ZIP 31209 offers a moderate yield with a fair market rent of $1160 and a median home price of about $217,500. The stability is indicated by the consistent FMR and the availability of multiple rental properties, making it a reliable investment option for steady cash flow.
Data Sources: FMR data from HUD (2027).
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.