Location: Winston-Salem, 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 | $880 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,000 | $174,555 | 0.57% | F |
| 2BR | $1,090 | $192,321 | 0.57% | F |
| 3BR | $1,440 | $293,920 | 0.49% | F |
| 4BR | $1,750 | $378,179 | 0.46% | F |
| 5BR | $2,030 | $481,441 | 0.42% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 27028, Mocksville, NC, is set at $1010 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is also known as the Housing Choice Voucher Program. It's important to note that this is not the actual rent you will be setting for your property; it's the payment standard that the government uses to determine the maximum subsidy it will pay on behalf of eligible tenants.
In comparison, the local average rent for a two-bedroom apartment in Mocksville is around $2,050. This is the Zillow Observed Rent Index (ZORI), which reflects the typical market rate for rentals. The difference between the ZORI and the FMR highlights the gap between what the government subsidizes and what the market demands, which could affect your decision to participate in the Section 8 program.
The 21.5% renter share indicates that a significant portion of the population in Mocksville relies on renting as their primary form of housing. This suggests a steady demand for rental properties, including those participating in the Section 8 program. However, the FMR of $1010 is notably lower than the local average rent, meaning you would be accepting a lower rent than what the market typically offers.
If you're considering purchasing a property in Mocksville to use as a Section 8 rental, the median home value is approximately $279,457. This is the price range you should expect when looking to acquire a property in this area. Given the lower rent you'll receive through the Section 8 program, it's crucial to ensure that the purchase price aligns with your investment goals and that you understand the financial implications of receiving the subsidized rent versus market rates.
Before making a final decision, verify that the property meets all the necessary requirements for the Section 8 program. This includes ensuring that the unit is up to code, passes inspections, and complies with any additional regulations set forth by the local housing authority. This step is critical to avoid delays or complications once you've acquired the property.
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.