ACS 2023 · HUD FY2027 · 3 ZCTAs with ACS
Kennesaw housing stock & renter economics
Kennesaw apartment-building and small-multifamily investors concentrate in ZIPs where HUD Fair Market Rents sit above or beside ACS median gross rent. The table below is ZCTA housing stock and voucher benchmarks for commercial residential income underwriting, linked to each ZIP housing profile.
3 ZCTAs · 3 with ACS. Medians across ACS ZIPs; totals for stock. Not a listing feed.
- Population
- 128,702
- Households
- 46,485
- Housing units
- 48,968
- 2-unit stock
- 181
- 3–4 unit stock
- 515
- 2–4 unit stock
- 696
- 5–49 unit stock
- 6,970
- 50+ unit stock
- 1,942
- Median renter share
- 28.5%
- ACS median rent
- $1,706
- Contract rent
- $1,541
- 1BR SAFMR
- $1,740
- 2BR SAFMR
- $1,890
- 3BR SAFMR
- $2,250
- SAFMR / ACS rent
- 1.11×
- Vacancy (ACS)
- 5.2%
- Pop Δ 2018–2023
- +4.6%
- Median HH income
- $84,724
- Rent burden ≥30%
- 53.1%
- Rent burden ≥50%
- 23.6%
- LIHTC projects / units
- 8 / 1,173
- HUD assisted MF
- 1 / 49
- Alloc. 5+ permits
- 1,652
Kennesaw: median renter share 28.5%; ACS median gross rent $1,706; FY2027 2BR SAFMR $1,890; 2BR SAFMR is 1.11× ACS median gross rent; 181 units in 2-unit structures, 515 in 3–4-unit structures, and 6,970 in 5–49-unit structures; population up +4.6% between ACS 2018 and 2023; 8 LIHTC projects (1,173 units); 1,652 allocated 5+ unit permits (county BPS × ZCTA share). Census / HUD stock, not a rent roll and not a buy/sell score.
Georgia ZIP housing directory·All Georgia ZCTAs·SAFMR directory·Voucher Spread™
ZCTA ≈ USPS ZIP. ACS 5-year 2023 lags construction. Units-in-structure is Census standing stock (2-unit vs 3–4 vs 5–49 vs 50+), not the live FMLS card. SAFMR is a bedroom-specific HUD voucher benchmark, not asking rent. LIHTC / assisted-MF are inventory of record and belong on apartment pages. 5+ permits are county BPS 2025 allocated by ZCTA housing-unit share. Brokerage is Georgia-only.
Multifamily Investment Properties for Sale in Kennesaw
No active small multifamily listings in Kennesaw right now. Kennesaw sits in Cobb County near Kennesaw State University and has solid rental demand. Multifamily inventory is limited and usually consists of small residential multi-unit properties.
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No multifamily investment properties for salecurrently listed in Kennesaw.
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Before you offer, check the ask against NOI with the commercial cap rate calculator, test DSCR on the DSCR and cash-on-cash calculator, and price per door on the gross rent multiplier calculator.
Know the terms first:Atlanta apartment cap ratesNOI for apartment buildingsmultifamily pro forma and T-12 guideapartment building DSCR loan guidehow to use gross rent multipliercash-on-cash return explainedcommercial real estate financing guideOpportunity Zone tax benefits explained
- Cap rate · NOImultifamily cap rate calculatorBuild NOI from rents and expenses, then solve for cap rate, price, or value.
- DSCR · Cash-on-cash · Cash flowmultifamily investment calculatorRent roll, expenses and the loan in one model: NOI, DSCR, cash-on-cash, cash flow, PDF.
- GRM · Price per unit · Income approachapartment building value calculatorIncome-approach value, price per door, and GRM with a cap rate sensitivity.
- 1% rule · Rent to price1% rule multifamily listingsLive Georgia multifamily listings where monthly rent clears 1% of the ask.
- Debt service · Balloon · Commercial mortgagecommercial real estate loan calculatorMonthly payment, annual debt service, and the balloon on a commercial loan.
- IRR · Equity multiplecommercial real estate IRR calculatorLevered IRR and equity multiple from cash flow growth and an exit cap.
- 1031 exchange · Boot1031 exchange calculatorDeferred gain, cash and mortgage boot, minimum replacement price, 45 and 180 day clock.
- LIHTC · Rent limits · Tax creditsLIHTC valuation toolGeorgia LIHTC rent caps by county and AMI tier, plus annual credits and equity from eligible basis.
Screening estimates only. Confirm rents, expenses and loan terms with a T-12, rent roll and lender quote.
Shopping for a home to live in instead? Browse homes for sale in Kennesaw, GA (444 current FMLS listings).
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Frequently Asked Questions: Kennesaw Multifamily
Are there multifamily properties for sale in Kennesaw?
This page is the live FMLS Residential Income set for multifamily properties in Kennesaw. Counts change with the MLS feed. If inventory is thin, open the statewide Georgia multifamily properties collection or the county page for a larger sample.
How does Kennesaw compare to Georgia overall for multifamily properties?
Use the statewide inventory at /multifamily-for-sale/georgia for the full Georgia multifamily properties set, then compare $/door and published cap estimates against this city. Smaller markets often have one or two live listings; that is not a full comp set.
Do multifamily properties in Kennesaw still qualify for residential financing?
Most 2 to 4 unit multifamily properties can still qualify for conventional residential financing when the buyer and property meet guidelines. Always confirm with your lender. 5+ unit buildings are a different stack.
Why is the estimated cap rate missing on some Kennesaw listings?
Yields on this site are independent screening models, not MLS fields. A listing is left out of the cap sample when we cannot publish a number. That is not a zero cap: pull the rent roll.
What rent should I underwrite on a multifamily property in Kennesaw?
The rent the units actually collect, from the rent roll and bank deposits, not the asking or pro forma rent. Check it against HUD Fair Market Rents for the area and a few nearby rental listings. If a building leans on Housing Choice Vouchers, the local housing authority payment standard sets the ceiling.
Will the property taxes change after I buy a multifamily property in Kennesaw?
Plan on it. Georgia assesses property at 40% of fair market value, and a sale gives the county assessor a fresh market value to work from, so budget taxes on your purchase price rather than the seller's current bill. The county tax assessor that covers Kennesaw can tell you the millage rate.
Can I use a 1031 exchange to buy a multifamily property in Kennesaw?
Yes, when the property you sell and the one you buy are both held for investment. Identify the replacement within 45 days, close within 180 days and use a qualified intermediary. Any investment real estate, including land and commercial buildings, can be exchanged into a rental property.
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