Location: Randolph County, GA | Metro: Clay County, GA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 39851 reveals several key insights that are crucial for landlords and small-portfolio investors considering investment in this area.
The rent math does not work favorably in this ZIP code. The Fair Market Rent (FMR) for the area, set at $970 per month for fiscal year 2026, is significantly higher than the actual market rent, which stands at $541 according to the Census ACS. This gap indicates that landlords might struggle to charge rents that align with the FMR, potentially leading to lower occupancy rates or difficulties in attracting tenants willing to pay higher rents.
Acquisition in this market is relatively affordable. The median home value is $140,566, making it accessible for investors looking to enter the market without requiring substantial capital. However, the lack of data on the number of days on market (DOM) and the percentage of homes needing price cuts suggests that the local real estate market may have limited transparency, which could pose challenges for assessing property values accurately and timing purchases effectively.
Tenant demand in ZIP 39851 is moderate. With a total population of 2,080 and a renter share of 27.9%, there are approximately 578 potential renters. While this represents a sizeable portion of the population, the overall number of potential tenants is relatively low compared to larger metropolitan areas, indicating that competition among landlords for rental properties could be intense.
In summary, while the acquisition cost in ZIP 39851 is affordable, the discrepancy between FMR and market rent poses a significant challenge. Additionally, the limited tenant pool and moderate demand suggest that investors should proceed with caution. The success of rental investments here will depend heavily on the ability to manage costs effectively and compete in a niche market with fewer potential tenants.
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.