Location: Tift County, GA | Metro: Albany, GA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,050 |
| 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 market in ZIP code 31795 presents a dynamic landscape where rental economics are at the forefront. With a Fair Market Rent (FMR) of $1000 for the fiscal year 2024, it's evident that the government benchmark for affordable housing is set higher than the actual market rent, which stands at $859 according to the latest Census American Community Survey (ACS) data. This suggests a scenario where the rental market is somewhat below the government's affordability threshold, indicating a potential gap between what tenants can afford and what landlords aim to charge.
The median home value in the area is $173,916, which is a key figure for small-portfolio investors considering property purchases. However, the lack of specific data on price-cut share and days on market (DOM) makes it challenging to pinpoint the exact supply-demand balance. Nevertheless, the 28.7% renter share is a critical indicator of the local housing dynamics. A significant portion of the population renting rather than owning implies ongoing long-term housing pressure. This could be due to various factors including affordability issues, job instability, or demographic trends favoring renting over buying.
The disparity between the FMR and market rent points towards a market where supply might slightly outpace demand. Landlords aiming to attract tenants may need to adjust their rents downward to match the market rate, thus creating a competitive environment. For small-portfolio investors, understanding these dynamics is crucial for setting realistic expectations regarding rental income and property 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.