Section 8 Fair Market Rent (FMR) for ZIP 27046 - 2027

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

Investment Score for ZIP 27046

N/A

Monthly Rent (2BR)

$1,010

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$820
1 Bedroom	$930
2 Bedrooms	$1,010
3 Bedrooms	$1,330
4 Bedrooms	$1,620
5 Bedrooms	$1,879
6 Bedrooms	$2,104
7 Bedrooms	$2,272
8 Bedrooms	$2,386

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,330	$251,181	0.53%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,032

Median Household Income

$64,464

Housing Units

1,096

Renter Percentage

12.6%

Occupancy Rate

90.3%

Renter Occupied

125

A landlord considering purchasing a property in ZIP code 27046 for Section 8 purposes must evaluate several factors to make an informed decision. Here's a decision tree based on the available data:

1) Does the Fair Market Rent (FMR) of $880 cover the debt service on a property valued at $228,453?

No: The FMR does not sufficiently cover the debt service on a property of that value. Debt service typically includes mortgage payments, insurance, and taxes. For a property priced at $228,453, the monthly debt service would likely exceed $880, making it unprofitable to rely solely on Section 8 tenants.

2) Is the market rent of $584 above, at, or below the FMR?

Below: The market rent is lower than the FMR, indicating that Section 8 rents are higher than what non-subsidized tenants might pay. This can be advantageous if the landlord wants to secure a steady income stream without worrying about finding market-rate tenants.

3) Are 12.6% of residents renters, and is the days on market (DOM) sufficient to meet demand?

Yes: With 12.6% of residents being renters, there is a reasonable base of demand. However, the lack of data on DOM suggests uncertainty regarding how quickly properties are rented out. If the DOM is low, it indicates strong demand and the potential for quick occupancy, which is favorable for Section 8 investments.
No: If the DOM is high, it implies weaker demand and slower turnover rates, which could make managing a Section 8 property less attractive due to potential vacancies and the time required to fill them.

In summary, for a property valued at $228,453, the FMR of $880 will not cover the debt service, making it a poor choice for Section 8 investment. Despite the market rent being below the FMR, suggesting a financial advantage when renting to Section 8 tenants, the lack of clear DOM data combined with the high property cost makes the investment risky. Landlords should focus on properties where the FMR can comfortably cover debt service and where the rental market is robust enough to ensure quick occupancy.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.