Location: Wilkes County, NC | Metro: Iredell County, NC HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $196,590 | 0.51% | F |
| 3BR | $1,340 | $268,556 | 0.5% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 27020, which covers Hamptonville, NC, is set at $940 for fiscal year 2024. This figure represents the payment standard under the Section 8 Housing Choice Voucher program. It is important to note that this is not the amount you will receive as rent but rather the maximum amount the program will pay towards rent for a unit in this area.
In comparison, the average rent for the same ZIP code according to the U.S. Census Bureau's American Community Survey is $875. This indicates that the FMR is slightly higher than the typical market rate, potentially offering a modest advantage for landlords participating in the Section 8 program.
The renter share in Hamptonville is 15.4%, meaning that nearly one out of every six residents in the area are renters. This percentage can help you gauge the potential demand for rental properties, particularly those that might attract Section 8 tenants.
If you're looking to acquire a property in this area for your first Section 8 rental, the median home value is approximately $254,783. This figure gives you an idea of the initial investment required to enter the market in Hamptonville.
Before making the decision to participate in the Section 8 program with a property in ZIP 27020, it is crucial to verify that the property meets all the necessary standards for eligibility. Specifically, ensure that your rental unit passes the inspection criteria set by the housing authority, including safety, health, and structural conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.