Location: Winston-Salem, NC | Metro: Winston-Salem, NC HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,290 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $2,090 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,460 | $133,834 | 1.09% | B |
| 2BR | $1,590 | $188,647 | 0.84% | C |
| 3BR | $2,090 | $327,192 | 0.64% | D |
| 4BR | $2,550 | $573,347 | 0.44% | F |
| 5BR | $2,958 | $859,189 | 0.34% | F |
U.S. Census Bureau data (2024)
The ZIP code 27104 in Winston-Salem, NC, hosts a population of 31,783 residents, with 40.4% being renters. This indicates a substantial rental market presence, making it a viable area for landlords and small-portfolio investors focusing on Section 8 tenants. The median household income stands at $81,529, which provides a basis for understanding the financial capacity of potential tenants.
The typical market rent in this ZIP is $1,335, representing approximately 16.3% of the median household income. This percentage suggests that while rent is a significant expense, it is manageable for most households. Notably, the Fair Market Rent (FMR) for the area is slightly lower at $1,270 (for FY 2024), indicating that properties priced around $1,335 may be slightly above the average subsidy limit but still within reach for many Section 8 tenants.
In terms of tenant profiles, landlords in ZIP 27104 can expect a mix of individuals and families who rely on housing vouchers due to their financial circumstances. These tenants are likely to have an income level that aligns closely with the median household income or below, necessitating the use of subsidies to afford living spaces. Given the high percentage of renters, there is likely a robust demand for affordable rental units, particularly those that qualify under Section 8 guidelines.
The area's demographics support a strong tenant pool, with a significant portion of the population relying on rental housing. However, the relatively high median income means that landlords might encounter some competition from higher-income renters looking for affordable options, though the primary focus will remain on those utilizing housing vouchers.
To summarize, ZIP 27104 presents a favorable environment for landlords interested in Section 8 tenants, characterized by a substantial rental market and a demand for affordable housing options. Landlords should prepare for a tenant base that requires careful management and adherence to federal housing assistance programs.
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.