Section 8 Fair Market Rent (FMR) for ZIP 27157 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 27157, located in North Carolina, is a region that offers potential opportunities for real estate investment, particularly for those interested in the rental market. The Fair Market Rent (FMR) for the area has been established, providing a benchmark for rental prices.

• The Fair Market Rent for a two-bedroom apartment in ZIP 27157 for fiscal year 2024 is set at $1140.
• The market rent for the area is currently not available, which means there's no recent data on what properties are actually renting for, but the FMR can serve as a guideline.
• The median home value in ZIP 27157 is also not available, indicating that detailed property valuation data is lacking.
• The percentage of residents who are renters in the area is not available, suggesting that we don't have precise data on how many people prefer renting over owning.
• The Days on Market (DOM) figure for the area is not available, meaning there's no current data on how long it takes for homes to sell.
• The median income for households in ZIP 27157 is not available, which makes it difficult to gauge the financial stability of potential tenants or buyers.

Given the limited availability of specific market data, investors should rely on the Fair Market Rent as a key indicator for setting competitive rental prices. While there isn't comprehensive information on market rents, median home values, renter share, DOM, or median income, the FMR of $1140 for a two-bedroom unit provides a solid starting point for pricing rentals. It's crucial to conduct further local research to fill in the gaps regarding tenant affordability and market conditions.

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.