Location: Winston-Salem, NC | Metro: Winston-Salem, NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The ZIP code 27042 presents a unique market scenario that reflects the dynamics of housing pressures and rental trends. The Fair Market Rent (FMR) for this area is set at $920 for the fiscal year 2024, indicating a benchmark that landlords and investors can use to gauge their rental pricing. However, the absence of current market rent data suggests a lack of recent activity or reporting in this sector, which could imply a stable but less competitive environment.
The 0.0% renter share statistic is particularly noteworthy. This figure indicates that there are currently no reported renters in the ZIP code, suggesting a strong preference for homeownership among residents. Such a low renter share can be interpreted as a sign of long-term housing stability, where families and individuals have invested in owning property rather than renting. This trend reduces immediate demand pressure on the rental market, potentially leading to fewer opportunities for short-term rental investments. However, it also implies a robust local economy capable of supporting widespread homeownership, which can be beneficial for long-term real estate investments.
While the median home value and days on market (DOM) are not provided, the overall picture suggests a market where supply might be closely aligned with demand, if not slightly exceeding it. The lack of price-cutting among listings, indicated by the missing percentage, points towards a market where properties are selling or renting at their listed prices without significant concessions. This behavior often occurs when the market is balanced or when sellers and landlords are confident in the value of their properties.
In summary, ZIP 27042 appears to be a market characterized by a high level of homeownership and a relatively stable rental environment, with the FMR serving as a guide for rental pricing. The absence of renters signals a long-term investment climate, where the focus should be on properties that appeal to potential buyers rather than those seeking short-term rental yields. Landlords and investors should consider these factors when making decisions about their real estate portfolios in this area.
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.