Macon is a budget-friendly market in the South with a mid-sized city of 157,300. At a 5.31% estimated cap rate, this is a moderate market where rents of $1,210/mo lag behind home prices. With a median home price of $190,000 and population is roughly stable, Macon 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
Macon's 0.6% rent-to-price ratio is well below the 1% rule. At median prices of $190,000, the $1,210/mo rent produces only $841/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 ($38K at 7%) would result in approximately $-170/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 13.1x gross rent multiplier and 7.5% vacancy rate position Macon as a value-oriented market. With annual appreciation at 2%, total returns (cash flow + equity growth) run approximately 7.3% before financing leverage.
Pre-filled with Macon medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Macon.
Macon, GA has a population of 157,300 and has been growing at 0.2% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $190,000 paired with median rents of $1,210/mo produces an estimated cap rate of 5.31%.
Property taxes at 0.96% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 7.5% runs above average, which increases cash flow volatility and warrants conservative underwriting.
At a price-to-income ratio of 4.9x, homes cost about 4.9 times the local median income of $38,400. This moderate ratio indicates a balanced rent-vs-buy market. Home values have appreciated at roughly 2% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Macon presents moderate opportunities. Cap rates near 5.31% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.