Location: Burlington, NC | Metro: Burlington, NC MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
ZIP code 27216, located within the Burlington, NC MSA metro area, presents an interesting profile when compared to other ZIP codes in the region. The Fair Market Rent (FMR) for ZIP 27216 is set at $1220 for fiscal year 2024. This figure is crucial for understanding the rental dynamics in the area.
To contextualize 27216 within the Burlington, NC MSA, it's necessary to look at the typical metrics for other ZIP codes in the same metro. However, the specific market rent, home value, and renter share percentages for ZIP 27216 are currently unavailable. Despite this, we can make some inferences based on the FMR alone.
The FMR of $1220 suggests that ZIP 27216 could be considered a value pocket within the Burlington, NC MSA. Typically, FMRs reflect the affordable rental market, which tends to be lower than the overall market rents. Given the absence of market rent data, the FMR serves as a baseline for comparison. If other ZIP codes in the Burlington, NC MSA have higher market rents, then 27216 stands out as offering relatively more affordable housing options.
The lack of home value data makes it challenging to definitively categorize 27216's real estate market. However, if we assume that the home values in 27216 are also lower than the typical values in the Burlington, NC MSA, this would further support the idea of it being a value pocket. Lower home values combined with a potentially high renter share, though unconfirmed, would indicate a strong opportunity for landlords participating in Section 8 programs. Such a combination often signals a sweet spot for Section 8 investments due to the alignment between tenant subsidies and local rental costs.
In summary, while complete data is lacking, the FMR of $1220 for ZIP 27216 points towards it being a value pocket within the Burlington, NC MSA. Landlords and small-portfolio investors should consider this ZIP code as a potential area for investment, especially if they are interested in Section 8 properties. The absence of specific market rent and home value data means that further research is required to fully assess the investment potential, but the available information suggests favorable conditions for affordable housing.
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.