Real Estate Investing in Alma, Georgia (31510)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 31510 (Alma, GA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- High vacancy: 20.5% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Alma, GA (31510)?
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Market Analysis: 31510 Alma
ZIP 31510 in Alma, GA carries a sturdy set of headwinds. Home values near $162K and rents of $882/mo sit inside a market where underwriting has to be tight.
Rent of $882/mo on a $162K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 31510 sits below the stated 0.0% once reality is priced in.
The gap between 31510 and stronger Alma ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
On the rental side, 9,592 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Distressed ZIPs reward experience. significant returns are possible in 31510, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Alma:
Market Trends
Home Value History (with trend line)
📊 How Does 31510 Compare?
| Metric | 31510 | Alma | Waycross, GA | Georgia |
|---|---|---|---|---|
| Home Value | $161,615 | $161,615 | N/A | $329,538 |
| 5-Year CAGR | 8.3% | 8.3% | N/A | 7.8% |
| Avg Rent | $882 | $882 | N/A | - |
| Cap Rate | 4.3% | 4.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 31510 (Alma, GA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $161,615 |
| Monthly Rent | $882 |
| Price-to-Rent | 15.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 12.6% |
📈 Home Appreciation
| 1-Year | +11.8% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +8.3% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 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 (4.3%). 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 31510
Population: 9,592
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 31510
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.
Frequently Asked Questions
What is the typical vacancy rate in Alma, GA?
Occupancy in Alma, GA runs steady with elevated vacancy. Well-priced units at $882/mo lease on reasonable timelines.
How strong is the working-renter base in Alma, GA?
Tenant demand in Alma, GA is solid. The local workforce $882/mo rents across most rental classes.
Is Alma, GA a smart market for rental property?
The 3.0/5 investability rating in Alma, GA reflects its $162K prices and $882/mo rents. Investors generally consider it a solid option within GA.
How do landlord-tenant laws work in Alma, GA?
GA law landlord-friendly for landlords, and Alma inherits those rules. Investors should still review local ordinances for rental licensing.
Is housing expensive in Alma, GA?
Alma, GA median home values land near $162K. That is reasonable territory for investors looking at $882/mo-per-month rentals.
You know 31510 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 31510 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 31510 ranks in Waycross, GA
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