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Milledgeville vs Rome for Rental Property Investing

Side-by-side comparison of Milledgeville, GA and Rome, GA — cap rates, rent, prices, and investment metrics.

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Milledgeville wins 3–0 across key metrics
Milledgeville leads on cash flow (4.32% vs 4.04% cap rate)
Metric
Milledgeville, GA
Rome, GA
Est. Cap Rate
4.32%
4.04%
Median Home Price
$225,000
$230,000
Median Monthly Rent
$1,210
$1,180
1% Rule
0.54%
0.51%
GRM
15.5x
16.2x
Price / Income
4.6x
4.7x
Property Tax Rate
0.93%
0.93%
Vacancy Rate
6.2%
6.2%
Population Growth
0.9% / yr
0.9% / yr
Annual Appreciation
2.9%
2.9%
Population
50,000
50,000
Median Income
$49,350
$49,350

Milledgeville vs Rome: Which Is Better for Investors?

Cash flow: Milledgeville has the edge with an estimated cap rate of 4.32% compared to Rome's 4.04%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $225,000 in Milledgeville vs $230,000 in Rome, while rents come in at $1,210/mo and $1,180/mo respectively. For context, the national average cap rate is 3.81% and average price is $333K.

Growth & appreciation: Milledgeville is growing faster at 0.9% annually vs Rome's 0.9%. Milledgeville leads on home value appreciation at 2.9% per year.

Costs & risk: Property taxes are 0.93% in Milledgeville vs 0.93% in Rome. Vacancy rates of 6.2% and 6.2% are mixed — Rome has the tighter rental market.

Entry point: Milledgeville offers a lower entry at $225K vs Rome's $230K — a difference of $5K. With a 20% down payment, that's $45K vs $46K. Milledgeville combines the lower price with a higher cap rate — a compelling combination.

Bottom line: Milledgeville edges out Rome on most key metrics. While cap rates are moderate at 4.32%, Milledgeville's overall profile is stronger. Use our free calculators to model specific deals in Milledgeville or Rome.

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Milledgeville, GA
4.32% cap rate · $225,000 median · $1,210/mo
Full analysis →
Rome, GA
4.04% cap rate · $230,000 median · $1,180/mo
Full analysis →

Frequently Asked Questions

Is Milledgeville or Rome better for rental investing?
Milledgeville wins 3–0 across our 7 key metrics (cap rate, 1% rule, GRM, taxes, vacancy, growth, appreciation). Milledgeville's 4.32% cap rate and $225K median price offer both higher returns and a lower entry point.
What is the cap rate difference between Milledgeville and Rome?
Milledgeville has a 4.32% cap rate vs Rome's 4.04% — a difference of 0.28 percentage points. This is a relatively small difference — other factors like growth, taxes, and local market conditions may matter more. For context, the national average is 3.81%.
Which city has lower property taxes?
Rome has lower property taxes at 0.93% vs 0.93%. On a $228K property, that's a difference of approximately $47/year in tax expense — money that goes directly to (or from) your cash flow.
Which city is growing faster?
Milledgeville is growing at 0.9% annually vs Rome's 0.9%. Moderate growth provides stable demand. Milledgeville's appreciation rate of 2.9% also leads on home value growth.

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