Location: Winston-Salem, NC | Metro: Winston-Salem, NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
U.S. Census Bureau data (2024)
The rent math in ZIP 27016, part of the Winston-Salem, NC HUD Metro FMR Area, does not align favorably due to insufficient data on market rent. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $930. Without a specific figure for market rent, it's challenging to determine if rental income will cover operational costs and provide a profit margin.
Acquisition in ZIP 27016 is moderately affordable, given the median home value stands at $235,353. However, without data on the days on market (DOM) and the percentage of homes that have required price cuts, it's difficult to assess the full picture of property acquisition costs and potential negotiation opportunities. Landlords and small-portfolio investors should be cautious about overpaying for properties and ensure they conduct thorough due diligence on market trends and local real estate conditions.
Tenant demand in ZIP 27016 is present but limited. The area has a population of 1,900, with a renter share of 15.4%. This means approximately 293 individuals or households are likely seeking rental accommodation. While this represents a steady tenant base, the relatively low number of renters compared to the overall population suggests that competition among landlords could be intense.
Given the analysis, investing in ZIP 27016 presents a mixed outlook. The affordability of acquiring a property is favorable, but the lack of detailed market rent data introduces uncertainty into the profitability equation. Tenant demand is modest, which could lead to competitive pressures. For landlords and small-portfolio investors, it is advisable to proceed with caution and focus on properties that offer strong rental yields based on the FMR of $930. Additionally, understanding the nuances of the local rental market through further research and networking with local realtors is essential to making informed investment decisions.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.