Location: Montgomery County, NC | Metro: Montgomery County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The rent math in ZIP code 27247 does not provide a clear picture due to the absence of market rent data. The Fair Market Rent (FMR) for the area, set at $1,010 for fiscal year 2026, is a guideline used by the U.S. Department of Housing and Urban Development (HUD) for determining payment standards under the Section 8 program. However, without current market rent figures, it's impossible to determine if this FMR accurately reflects what tenants can afford or what landlords can expect to receive in rental income.
Regarding acquisition affordability, the lack of specific data on median home values, days on market (DOM), and the percentage of homes that have been subject to price reductions makes it challenging to assess the current real estate market conditions. Typically, these metrics would give insight into whether now is a good time to purchase properties for rental purposes. Landlords and investors should seek local real estate agents or market reports to fill in these gaps and make informed decisions about property acquisitions.
Tenant demand in ZIP 27247 is evident given the 42,000 population and a significant 27.3% renter share. This indicates that a considerable portion of the population is actively seeking rental housing, which could be beneficial for landlords looking to fill their properties. The high renter share suggests that there is a stable need for rental units, which can help ensure occupancy rates remain steady.
In summary, while there is a substantial tenant base in ZIP 27247, the viability of Section 8 properties hinges on the unknowns regarding current market rents and the specifics of the real estate market such as median home values and pricing trends. Investors should proceed with caution and gather additional local market data before making any investment decisions.
Data Sources: FMR data from HUD (2027). 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.