Location: Surry County, NC | Metro: Surry County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
ZIP code 27047, located within Surry County, NC, presents an interesting scenario when compared against typical ZIP codes in the same county. The Fair Market Rent (FMR) for 27047 stands at $950, which is set for the fiscal year 2026. This figure is notably higher than the market rent of $763, indicating that government-subsidized rents are above what the private market offers. This discrepancy suggests that 27047 could be a value pocket for landlords participating in the Section 8 program, as they would receive higher rental payments than the local market rate.
The lack of data on home values in 27047 makes it difficult to draw direct comparisons with other ZIP codes in Surry County, but the 14.7% renter share is a significant indicator. Typically, a higher percentage of renters can signal a greater reliance on rental assistance programs, such as Section 8. Given that the market rent is below the FMR, this ZIP code might attract tenants who qualify for Section 8 housing benefits, making it a favorable area for landlords who wish to participate in such programs.
In summary, 27047 appears to be a value pocket within the Surry County, NC metro due to the higher FMR compared to market rent, suggesting potential financial benefits for landlords who accept Section 8 vouchers. The relatively high renter share further supports this conclusion, as it indicates a larger demand for subsidized rentals in the 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.