Real Estate Investing in Wray, Georgia (31798)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 31798 (Wray, GA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 15.9% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Wray, GA (31798)?
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Market Analysis: 31798 Wray
Not every below-median market is a bargain. Wray's 31798 ZIP comes in at signals that favor experienced operators who can absorb the risk $194K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $194K asset, 31798 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 31798 sits on the difficult end of the GA spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
Resident income in 31798 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 31798 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Wray:
Market Trends
Home Value History (with trend line)
📊 How Does 31798 Compare?
| Metric | 31798 | Wray | Georgia |
|---|---|---|---|
| Home Value | $194,333 | $194,333 | $329,538 |
| 5-Year CAGR | 6.0% | 6.0% | 7.8% |
| Avg Rent | $891 | $891 | - |
| Cap Rate | 3.6% | 3.6% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 31798 (Wray, GA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $194,333 |
| Monthly Rent | $891 |
| Price-to-Rent | 18.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +17.4% ▲ |
| 3-Year CAGR | +5.5% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 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 (3.6%). 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 31798
Population: 928
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
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How high is vacancy risk in Wray, GA?
Vacancy risk in Wray, GA is elevated. That supports measured cash flow for typical rental holds.
What do rentals go for in Wray, GA?
Average rent in Wray, GA is approximately $891/mo per month. Against $194K home values that yields a reasonable rent-to-price ratio.
Are tenants stable in Wray, GA?
Wray, GA draws a consistent base of working renters. Demand at the $891/mo rent level is reasonable for standard single-family and small multi rentals.
Is Wray, GA suited for a house hack?
The a challenging house-hack environment in Wray, GA reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
Which investment style suits Wray, GA?
A careful cash-flow rentals with hands-on management strategy Wray, GA best. The market produces predictable results for that approach at the $194K price point.
You know 31798 now. You don’t know where it ranks.
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