Location: Thomas County, GA | Metro: Valdosta, GA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
18.1% of residents in ZIP code 31778 are renters, indicating a moderate demand for rental properties. The Fair Market Rent (FMR) for the area, as of fiscal year 2024, is set at $890, which is slightly higher than the reported market rent of $856 according to Census ACS data. This suggests that landlords can potentially charge close to the FMR without significantly overpricing their units.
$74,593 is the median income for the area, providing context on the economic standing of potential tenants. While this figure is relatively stable, it's important to note that the median home value stands at $205,440, reflecting a broader housing market trend that could influence rental dynamics.
The data indicates that there is no available information on the average days on market (DOM) or the percentage of listings that have been price-cut, which might suggest a lack of comprehensive real estate activity tracking in the region. However, given the slight premium of FMR over market rent, it's reasonable to infer that rental properties are likely to be occupied promptly once listed.
Investors should also consider the economic environment when evaluating the potential for Section 8 participation. With a median income of $74,593, the need for affordable housing solutions like Section 8 is evident. The program can provide a steady stream of income and reduce vacancy risks, making it a viable option for landlords looking to maintain occupancy rates.
Based on the figures provided, the verdict for Section 8 participation in ZIP 31778 is positive, given the alignment between market rents and FMRs, along with the economic conditions supporting the need for such programs.
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.