Location: Winston-Salem, NC | Metro: Winston-Salem, NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,120 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
The Fair Market Rent (FMR) for ZIP code 27099 in fiscal year 2024 is set at $1140. This figure represents the payment standard for Section 8 housing vouchers, meaning that if you participate in the program, the government will pay up to this amount per month for your rental property. It's important to note that this is not the actual rent you can charge; it's the maximum reimbursement you'll receive from the Housing Choice Voucher program.
To understand the potential demand for Section 8 rentals in ZIP 27099, consider that the percentage of renters in the area is N/A%. While the exact figure isn't available, knowing the proportion of renters can help gauge interest in affordable housing options. If the percentage is high, there's likely strong demand for Section 8 properties.
When evaluating whether to enter the Section 8 market with your first rental in ZIP 27099, it's also crucial to look at the acquisition cost of properties. The average property value in this area is N/A. This can give you an idea of how much you might spend on purchasing a new rental unit or what kind of investment you're making if you already own a property.
A key factor to verify before committing to a Section 8 rental is the condition of your property. The Housing Authority requires that all units meet certain standards known as Housing Quality Standards (HQS). Ensure your property complies with these standards, which include basic safety and habitability criteria. This verification step is critical because failing to meet HQS could result in disqualification from the program.
In summary, the FMR of $1140 sets the ceiling for government reimbursement in ZIP 27099. With N/A% of the population being renters, you can expect a mix of demand depending on local economic conditions. Property values at N/A suggest a baseline for investment costs. Before proceeding, confirm your property meets the necessary HQS to avoid any issues with participation.
Data Sources: FMR data from HUD (2027).
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.