Real Estate Investing in Waycross, Georgia (31501)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 31501 (Waycross, GA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 20.6% of homes vacant — above national norms.
- Elevated poverty: 23.4% poverty rate — can affect rent collection.
- Lower household income: $38,633 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Waycross, GA (31501)?
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Market Analysis: 31501 Waycross
Turning to rents, ZIP 31501 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $131K median. It rewards specialists, not generalists.
Looking more closely, the numbers look inviting — $131K purchase price, 0.0% nominal cap — the work to hit that pro forma in 31501 is substantial and deserves full respect.
Within GA, ZIP 31501 trails on several market indicators that neighboring Ware County submarkets outperform. The gap is real and resilient enough to shape underwriting.
Resident income in 31501 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategy in 31501 is an operator game, not a passive one. Put differently, entry prices of $131K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Waycross:
Property Strategy for 31501
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $65,021 | $1,020 | 11.3% | +9.3% | $32,511 |
| 3BR | $151,991 | $1,220 | 5.8% | +9.6% | $50,664 |
| 4BR | $225,505 | $1,600 | 5.1% | +8.9% | $56,376 |
Market Trends
Home Value History (with trend line)
📊 How Does 31501 Compare?
| Metric | 31501 | Waycross | Waycross, GA | Georgia |
|---|---|---|---|---|
| Home Value | $131,095 | $144,983 | N/A | $329,538 |
| 5-Year CAGR | 4.2% | 3.2% | N/A | 7.8% |
| Avg Rent | $918 | $934 | N/A | - |
| Cap Rate | 5.5% | 5.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 31501 (Waycross, GA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $131,095 |
| Monthly Rent | $918 |
| Price-to-Rent | 11.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.4% |
| Cap Rate | 5.5% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | -2.3% ▼ |
| 3-Year CAGR | -0.9% ▼ |
| 5-Year CAGR | +4.2% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 31501
Population: 13,034
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 31501
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,068 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How strong are rents in Waycross, GA?
Expect rents around $918/mo per month in Waycross, GA. With home values at $131K, the yield math works out to reasonable levels for rental investors.
What investment strategy works best in Waycross, GA?
Investors usually favor careful cash-flow rentals with hands-on management in Waycross, GA. With home values at $131K and rents near $918/mo, other strategies can work but produce consistent rather than outsized returns.
Is Waycross in GA worth investing in?
Waycross, GA rates 3.0/5 for investability. With median values at $131K and rents near $918/mo, the market offers reasonable fundamentals for rental investors.
How high is vacancy risk in Waycross, GA?
Vacancy in Waycross, GA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $918/mo.
What is the tenant pool like in Waycross, GA?
Waycross, GA draws a stable base of working renters. Demand at the $918/mo rent level is reasonable for standard single-family and small multi rentals.
You know 31501 now. You don’t know where it ranks.
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How 31501 ranks in Waycross, GA
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