Location: Colquitt County, GA | Metro: Valdosta, GA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $830 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,430 | $237,693 | 0.6% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 31788 in Colquitt County, GA, reveals several key points for potential Section 8 landlords and small-portfolio investors.
The rent math does not work favorably for landlords. The Fair Market Rent (FMR) for FY 2024 is set at $890, while the Census ACS indicates a market rent of $931. This means that landlords participating in the Section 8 program will receive less than the market rate, resulting in a shortfall of $41 per unit, which can impact profitability.
Acquisition in this area is relatively affordable. With a median home value of $228,200, it represents a reasonable investment opportunity. However, the lack of data on days on market (DOM) and the low percentage of homes needing price cuts (0.2%) suggest limited opportunities for purchasing properties at distressed prices. Investors should focus on finding undervalued properties or those that require minimal renovation.
Tenant demand in ZIP 31788 is moderate. The total population stands at 11,301, with 33.7% being renters. This translates to approximately 3,800 rental units in the area, indicating a steady but not overwhelming demand for rental properties. Given the renter share, there is a consistent pool of tenants interested in leasing properties, though competition among landlords could be significant.
Verdict: ZIP 31788 presents an investment environment where acquisition costs are manageable, but the rent math is unfavorable due to the lower FMR compared to market rates. Tenant demand is present, though not exceptionally high. Landlords should consider the financial implications of receiving below-market rents and ensure that their acquisition costs align with long-term profitability goals. Additionally, focusing on property management efficiency and maintaining occupancy rates will be crucial for success in this market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.