Section 8 Fair Market Rent (FMR) for ZIP 27045 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,110
1 Bedroom	$1,260
2 Bedrooms	$1,370
3 Bedrooms	$1,800
4 Bedrooms	$2,200
5 Bedrooms	$2,552
6 Bedrooms	$2,858
7 Bedrooms	$3,087
8 Bedrooms	$3,241

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

10,863

Median Household Income

$71,086

Housing Units

4,905

Renter Percentage

27.1%

Occupancy Rate

92.9%

Renter Occupied

1,235

Housing Authorities Serving ZIP 27045

Housing Authority of the City of Winston-Salem (Winston Salem, NC) - 4,788 Section 8 vouchers
Piedmont Triad Regional Council (Kernersville, NC) - 850 Section 8 vouchers

To determine if you should buy in ZIP code 27045 (Rural Hall, NC) for Section 8 investments, follow this decision tree:

Step 1: Does the Fair Market Rent (FMR) of $1,120 cover the debt service on a property valued at $272,521?

No: The FMR does not sufficiently cover the debt service on a property of this value. A typical mortgage payment for a $272,521 property would be higher than the $1,120 FMR, making it financially unfeasible to rely solely on Section 8 tenants for this property.
Yes: Proceed to Step 2.

Step 2: Is the Zillow Rent Index (ZORI) of $1,625 above, at, or below the FMR?

Above: The market rent is higher than the FMR, indicating that there is potential to earn more from market-rate tenants. However, you must still evaluate demand for Section 8 units.
At or Below: This suggests that the market is either aligned with or under the FMR, which could mean that Section 8 tenants might be more common. Continue to Step 3.

Step 3: Do the 27.1% of renters and the unspecified number of days on the market (DOM) indicate sufficient demand?

It Depends: With 27.1% of the population being renters, there is a moderate level of rental demand. However, the lack of information on DOM makes it difficult to assess how quickly properties are being rented out. If the DOM is low, it indicates strong demand and a good opportunity for Section 8 investments. Conversely, high DOM values suggest weak demand, which may make it challenging to fill units with Section 8 tenants.

In conclusion, based on the provided data, purchasing a property in ZIP 27045 for Section 8 investment is not advisable due to the FMR being insufficient to cover debt service on a $272,521 property. Even though the market rent is above the FMR, and there is some rental demand, the financial viability of such an investment is questionable without a significant reduction in property price or increase in FMR.

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.