# Augusta, Georgia — Target Market

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**Status: On the watch list.** An anchored economy — medical, military, and nuclear — working through a heavy year of new supply.

## The numbers (data as of July 2026)

| Metric | Value | Source |
|---|---|---|
| Jobs y/y | +0.2% | BLS CES, May 2026 (prelim) |
| Population y/y | +0.89% | Census Vintage 2025 |
| Rent-to-income | 23.2% | Zillow NRAR, May 2026 |
| Supply pipeline | Digesting | 2025 deliveries ~5.4% of stock |

## Why Augusta

Augusta’s economy rests on unusually sticky anchors: a large medical and university health system, the Army’s cyber center of excellence at Fort Eisenhower, and the Savannah River Site nuclear complex — employers that don’t move with the business cycle. That stability is the draw.

## What we’re watching

The near-term caution is digestion.

- **Recent supply.** 2025 deliveries equaled about 5.4% of existing stock — a heavy year the market is still absorbing, though the forward pipeline is smaller.
- **Affordability.** Rent-to-income at 23.2% is toward the high end, limiting near-term rent-growth headroom.

## How this fits our box

20–50 units, B/C, 1985–2010 vintage, value-add, $2M–$8M — priced so a light reposition clears the gates: positive leverage from day one, ≥$100/unit/month in real cash flow, debt-service coverage we won’t stretch. Every sponsor calls their underwriting conservative; we’d rather [show you the gates](https://hermance.capital/learn/how-to-vet-a-sponsor) than claim the adjective.

*General market information, not investment advice or an offer of securities. Describes the metro, not any specific property. Refreshed quarterly.*