Location: Mitchell County, GA | Metro: Albany, GA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 31744 reveals a unique balance between yield and stability, making it an intriguing market for both landlords and small-portfolio investors. The Fair Market Rent (FMR) for the area stands at $890 for the fiscal year 2024, which is notably lower than the market rent of $952. This suggests that there is potential for landlords to charge slightly above the FMR, increasing their rental income and thus the yield of their investments.
However, the median home value of $169,590 indicates a relatively affordable housing market, which could attract a diverse range of tenants, including those who might be less financially stable. This is further supported by the fact that 32.4% of residents are renters, a figure that points towards a significant portion of the population relying on rental properties, potentially leading to higher tenant turnover if economic conditions fluctuate.
On the stability axis, the average daily days on market (DOM) is not available, but the median household income of $60,000 provides some insight into the financial health of the area's residents. While this income level is not exceptionally high, it does suggest a moderate level of financial stability among the population, which can help maintain a steady cash flow for landlords.
Given these factors, ZIP 31744 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The ability to charge close to $952 in rent while having a median home value of $169,590 means that the rental properties can generate a reasonable return on investment. However, the relatively low median income and the unknown DOM figures caution against expecting extremely high yields or rapid property flips due to the risk of higher vacancy rates and longer periods of finding suitable tenants.
To summarize, the key figures driving this classification are the FMR of $890 versus the market rent of $952, indicating a modest yield opportunity, and the median income of $60,000, suggesting moderate stability. These elements together create a market where steady, reliable returns are more likely than high-risk, high-reward scenarios.
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.