Location: Bulloch County, GA | Metro: Savannah, GA MSA
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 | $1,310 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,520 | $186,830 | 0.81% | C |
| 3BR | $2,020 | $281,027 | 0.72% | D |
| 4BR | $2,300 | $386,933 | 0.59% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 31321, Pembroke, GA, presents a nuanced scenario for both landlords and small-portfolio investors. With a median home value at $284,199, the area reflects a stable housing market, but the lack of percentage data on listings being reduced and the median days on market (DOM) suggest a balanced supply-demand situation without significant pressure on either side. This equilibrium implies that pricing power will remain moderate over the next 12-24 months, with neither rapid appreciation nor depreciation expected.
On the rental side, the Fair Market Rent (FMR) for ZIP 31321 in fiscal year 2024 is set at $1140, whereas the current market rent, according to Census ACS data, stands at $1,018. This indicates an upward trend in rental values, suggesting that landlords can potentially increase rents closer to the FMR level as the market adjusts. However, it's important to note that such adjustments should be gradual and considerate of local economic conditions to avoid tenant turnover.
For long-term hold investors, the setup in ZIP 31321 implies a realistic appreciation thesis grounded in steady growth rather than speculative bubbles. The current market dynamics, characterized by a stable median home value and a modest increase in rental rates, point towards a slow and consistent property value appreciation. This aligns with broader regional trends and the general economic stability of the area, which supports a conservative investment strategy focused on long-term gains.
A key consideration for investors is the balance between rental income and property values. As rental rates approach the FMR, the demand for rental properties might slightly decrease, pushing some tenants towards homeownership if mortgage rates and down payment requirements become favorable. Conversely, a stable median home value suggests that the cost of homeownership remains accessible, which could sustain the current balance between renters and buyers.
In summary, ZIP 31321 offers a stable environment for real estate investments, with a median home value of $284,199 and rental rates trending upwards towards $1140. These factors imply a moderate pricing power and a realistic appreciation thesis for long-term investors, emphasizing the importance of a strategic and patient approach to achieving financial goals in this market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.