Augusta, GA Cap Rate: 4.83% — Rental Property Analysis
Augusta is a budget-friendly market in the South with a mid-sized city of 203,023. At a 4.83% estimated cap rate, this is a moderate market where rents of $1,440/mo lag behind home prices. With a median home price of $245,000 and population is roughly stable, Augusta offers opportunities for investors who source deals carefully.
Market data powered by Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) · Updated Feb 2026
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Moderate — source deals carefully
Based on $245,000 median price and $1,440/mo median rent
Est. Cap Rate
4.83%
1% Rule
0.59%
Fails
GRM
14.2x
Price / Income
5.7x
Market Data
Median Home Price$245,000
Median Monthly Rent$1,440
Property Tax Rate0.94%
Population203,023
Population Growth0.5% / yr
Median Household Income$42,800
Vacancy Rate6.8%
Annual Appreciation2.4%
2026 Market Update: Augusta
Augusta's 0.6% rent-to-price ratio is well below the 1% rule. At median prices of $245,000, the $1,440/mo rent produces only $987/mo in NOI. Investors here need to target below-median properties or pursue value-add strategies to make the numbers work.
At current rates, a 20% down conventional loan ($49K at 7%) would result in approximately $-316/mo cash flow — negative at median prices. Larger down payments, seller financing, or buying 15–25% below median are strategies to turn the numbers positive.
The 14.2x gross rent multiplier and 6.8% vacancy rate position Augusta as a balanced market. With annual appreciation at 2.4%, total returns (cash flow + equity growth) run approximately 7.2% before financing leverage.
Cap Rate Calculator — Augusta
Pre-filled with Augusta medians. Adjust to match a specific property.
Property Details
$
$
3–8% typical
%
Monthly Expenses
0.94% rate
$
$
8–10% of rent
$
8–12% of rent
$
Cap Rate
3.96%Low
Net Operating Income ÷ Purchase Price
NOI / Year
$9,709
net operating income
Gross Rent Multiplier
14.2x
Good (<15)
1% Rule
0.59%
✗ Fails
Monthly Cash Flow
$809
before debt service
Annual Breakdown
Gross Rental Income$17,280
Less Vacancy−$1,175
Effective Income$16,105
Less Operating Expenses−$6,396
Net Operating Income$9,709
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Factor in financing to see your actual return on invested capital in Augusta.
$
$61,250
%
%
years
$
taxes + ins + maint + mgmt
$
$
Cash-on-Cash Return
-6.35%Weak
Annual Cash Flow ÷ Total Cash Invested
Total Cash Invested
$68,600
$61,250 down + $7,350 closing
Monthly Mortgage
$1,198
on $184K loan
Monthly Cash Flow
$-363
after all expenses
Annual Cash Flow
$-4,355
before taxes
Cash Flow Breakdown
Monthly Rent$1,440
Less Expenses−$605
Less Mortgage−$1,198
Monthly Cash Flow$-363
Is Augusta a Good Place to Invest in Rental Property?
Augusta, GA has a population of 203,023 and has been growing at 0.5% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $245,000 paired with median rents of $1,440/mo produces an estimated cap rate of 4.83%.
Property taxes at 0.94% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 6.8% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 5.7x, homes cost about 5.7 times the local median income of $42,800. This moderate ratio indicates a balanced rent-vs-buy market. Home values have appreciated at roughly 2.4% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Augusta presents moderate opportunities. Cap rates near 4.83% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.
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