Location: Wayne County, GA | Metro: Appling County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The ZIP code 31518 is situated in a predominantly owner-occupied neighborhood with only 7.2% of residents being renters. The area is characterized by a relatively small population of 793 individuals, indicating a tight-knit community where familiarity among neighbors is likely high. With a median household income of $92,563, the residents of this ZIP code enjoy a higher standard of living compared to the national average.
The median home value stands at $228,750, reflecting an affordable housing market that might appeal to first-time buyers or those seeking to invest in a stable but modestly priced real estate environment. However, the economic landscape shifts when considering rental dynamics. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970, yet there is no available data on the current market rent for ZIP 31518, suggesting either a lack of rental activity or limited reporting.
Given these conditions, ZIP 31518 would be better suited for a hands-off voucher operator rather than a hands-on value-add buyer. The low percentage of renters implies that the demand for rental properties is minimal, making it challenging for a value-add buyer to find opportunities for significant returns through rental increases. Instead, a hands-off approach focusing on maintaining properties and leveraging the Section 8 program's stability could be more effective. This strategy would benefit from the higher income levels of the area, ensuring a reliable tenant base with the means to meet their financial obligations.
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.