Location: Miller County, GA | Metro: Clay County, GA
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 | $820 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $118,732 | 0.85% | C |
| 3BR | $1,400 | $169,558 | 0.83% | C |
| 4BR | $1,540 | $268,386 | 0.57% | F |
U.S. Census Bureau data (2024)
The market in ZIP 39823, encompassing Blakely, GA, presents a dynamic equilibrium where the Federal Market Rent (FMR) set at $1,000 for metro fiscal year 2026 slightly exceeds the current market rent of $800 as reported by the Census American Community Survey. This suggests that while rents are currently below the government-set benchmark, there's an upward pressure on rental prices. The price-cut share of 0.2% indicates that very few properties are being discounted, which implies that the majority of listings are finding tenants at their listed prices, reflecting a relatively stable rental market.
The median home value stands at $128,363, a figure that landlords and small-portfolio investors should consider when evaluating property values and potential investment returns. The lack of day Days on Market (DOM) data could indicate either a very efficient local real estate market, or it might suggest that the market is less active, making it difficult to track the average selling time accurately.
A noteworthy statistic is the 37.1% renter share, a significant portion of the population that relies on rental housing. This high percentage of renters points to enduring long-term housing pressure in the area, as a substantial number of residents are unlikely to purchase homes due to financial constraints or other factors. For landlords and investors, this means a consistent demand for rental properties, which can be beneficial for maintaining occupancy rates and steady cash flows.
In summary, ZIP 39823 appears to be a market where demand is closely aligned with supply, but with a slight tilt towards upward rental pressure. The high renter share ensures a continuous tenant pool, which is advantageous for those looking to invest in rental properties. However, the absence of certain metrics such as day DOM limits a full understanding of the market's liquidity and pace.
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.