Location: Colquitt County, GA | Metro: Albany, GA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The ZIP code 31771 stands out due to its unique mix of demographics and housing economics. With a population of 7,059 residents, it has a rental rate of 27.1%, indicating a significant portion of the community lives in rented properties. The median income for residents is $62,978, which places them comfortably above the poverty line but below the average for higher-end markets. The median home value of $180,649 suggests that homeownership is attainable for many, yet still presents a barrier for lower-income renters.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 31771 is set at $950 for the fiscal year 2024. This is slightly below the market rent of $958, based on Census ACS data. Landlords should be aware that the gap between the FMR and market rent is minimal, which could impact the attractiveness of accepting vouchers. However, the close alignment between these two figures also indicates that voucher holders can afford typical rents in the area, providing a stable tenant pool.
The data signature for ZIP 31771 reads as relatively stable. The modest difference between FMR and market rent, along with a moderate rental rate and median income, suggests that the area is neither rapidly growing nor declining. Landlords and small-portfolio investors can expect steady demand from both voucher holders and other renters, without the volatility often seen in transitional markets. This stability offers a predictable environment for managing rental properties and planning long-term investments.
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.