Location: Greensboro-High Point, NC | Metro: Greensboro-High Point, 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 | $890 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $181,780 | 0.56% | F |
| 3BR | $1,310 | $217,176 | 0.6% | D |
| 4BR | $1,540 | $241,115 | 0.64% | D |
U.S. Census Bureau data (2024)
The ZIP code 27203, located in Asheboro, NC, presents a dynamic rental market. The Fair Market Rent (FMR) set at $940 for the fiscal year 2024 slightly exceeds the current market rent of $925 as indicated by ZORI (Zillow Observed Rent Index). This suggests that the rental market is stable but slightly undershot compared to government estimates, indicating potential for modest growth in rents.
A key indicator of market health is the price-cut share, which stands at 0.2%. This low percentage implies that landlords are generally not having to lower their asking rents to attract tenants, suggesting a balanced or slightly tight market condition where demand meets supply.
The median home value of $202,206 provides insight into the broader housing market. While it's not possible to determine the exact trajectory of home values without historical data, the relatively low median home value could indicate an affordable housing market, potentially attracting first-time buyers and increasing competition for rental properties. However, the absence of day DOM (days on market) data prevents a definitive conclusion on how quickly homes are selling.
The 57.1% renter share is significant. It suggests that over half of the households in Asheboro rely on rental housing, which could exert long-term upward pressure on rents due to sustained demand. Landlords should be aware of this demographic trend, as it indicates a strong need for rental units and a potentially robust market for long-term investment.
In summary, ZIP 27203 appears to be a market where demand closely matches supply, with slight indications of demand pressure. The current stability in rental prices combined with a high renter share points towards a resilient rental market, favorable for landlords and small-portfolio investors looking for steady returns.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.