Location: Ware County, GA | Metro: Bacon County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
ZIP code 31554, located within the Ware County, GA metro area, presents an interesting profile when compared against typical ZIP codes within the same county. The Fair Market Rent (FMR) for 31554 is set at $1,010 for fiscal year 2026, which is notably higher than the average market rent of $646. This suggests that the government subsidy levels for housing assistance in this ZIP code are generous relative to what tenants might pay on the open market.
The median home value in ZIP 31554 stands at $158,824, which is likely lower than the average home value in the broader Ware County metro. This combination of a higher FMR and a below-average home value can be indicative of a value pocket for landlords and small-portfolio investors looking to capitalize on the discrepancy between rental subsidies and actual market rents.
A value pocket typically offers opportunities where properties can be rented out at rates subsidized by government programs, yet the property values remain relatively low. This dynamic allows investors to potentially secure higher rental incomes without having to invest in higher-priced properties.
The renter share in ZIP 31554 is 20.2%, which is significant but not necessarily indicative of a high demand for rental units alone. However, when paired with the lower home values and higher FMR, it does suggest a potential sweet spot for Section 8 investments. Landlords in this ZIP code could benefit from the higher subsidy amounts while still dealing with a manageable proportion of renters.
In summary, ZIP code 31554 appears to be a value pocket within the Ware County, GA metro area, offering a strategic opportunity for investors interested in Section 8 properties due to its favorable FMR-to-market-rent ratio and lower-than-average home values.
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.