Section 8 Fair Market Rent (FMR) for ZIP 27022 - 2027

Location: Winston-Salem, NC | Metro: Winston-Salem, NC HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$830
1 Bedroom	$950
2 Bedrooms	$1,030
3 Bedrooms	$1,360
4 Bedrooms	$1,650
5 Bedrooms	$1,914
6 Bedrooms	$2,144
7 Bedrooms	$2,316
8 Bedrooms	$2,432

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,285

Median Household Income

$43,281

Housing Units

732

Renter Percentage

17.6%

Occupancy Rate

66.7%

Renter Occupied

The economics of Section 8 housing in ZIP code 27022 are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) is set at $890 per month for fiscal year 2024. This figure is specific to this ZIP code, reflecting the localized rental market conditions.

Local market rents, according to Census ACS data, stand at $754 for a similar two-bedroom unit. Landlords might wonder how these numbers translate into actual payments when a tenant uses a Section 8 voucher. Here’s a breakdown:

Tenant Portion: Tenants typically pay 30% of their adjusted income towards rent. If a tenant’s adjusted income is $1,500 per month, they would contribute $450 toward the rent.
Voucher Payment: The difference between the SAFMR and the tenant's contribution is covered by the voucher. In this case, the voucher would pay $440 ($890 - $450).
Utility Allowances: Utility allowances can vary but generally do not exceed the SAFMR. They are paid directly to the landlord as part of the voucher payment, adding a small amount to the total reimbursement.

To illustrate, if the utility allowance is $100, the landlord would receive $540 ($440 + $100) from the voucher program each month. Combined with the tenant's $450, the total monthly rent collected would be $990. However, this exceeds the SAFMR limit of $890, meaning the landlord cannot charge more than $890 for the apartment under the Section 8 program.

In ZIP 27022, the typical reimbursement gap or surplus for a two-bedroom apartment is a surplus of $136 per month. This surplus is calculated by subtracting the local market rent ($754) from the SAFMR ($890). It means landlords participating in Section 8 in this ZIP code can expect to receive slightly more than the average market rent for a two-bedroom unit.

Note that the SAFMR is designed to ensure that rental units are affordable for low-income families while also being competitive enough to attract landlords. However, landlords must understand that the rent cannot exceed the SAFMR, even if the market allows for higher rates.

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.