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 | $1,070 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,570 | $255,639 | 0.61% | D |
U.S. Census Bureau data (2024)
The ZIP code 27248 is situated in a rural neighborhood characterized by a modest population size of 4,234 residents. The area reflects a typical American community where homeownership is prevalent, with only 18.6% of the population being renters. This indicates a strong local economy, underlined by the median household income of $72,219, which is above the national average. The median home value in this ZIP code stands at $227,527, suggesting a stable housing market with homes that are reasonably priced for the region.
When it comes to rental economics, the disparity between the Fair Market Rent (FMR) and the actual market rent is notable. For fiscal year 2024, the FMR for ZIP 27248 is set at $1,150, significantly higher than the reported market rent of $799 according to Census ACS data. This gap presents an opportunity for landlords and investors who can leverage the higher FMR rates through Section 8 vouchers. It also implies that there might be a segment of the rental market catering to lower-income tenants, which could be attractive for those looking to serve this demographic.
The question of whether this ZIP code suits a hands-off voucher operator or a hands-on value-add buyer hinges on the specific investment goals. A hands-off operator would find comfort in the stability and predictability offered by the Section 8 program, with the potential for consistent cash flow given the higher FMR rates. On the other hand, a value-add buyer might see opportunities in renovating properties to command rents closer to the FMR, thereby increasing their returns. However, the relatively low proportion of renters and the overall modest population size suggest that the demand for rental units may be limited, making careful consideration necessary before investing.
In summary, ZIP 27248 offers a stable environment with a mix of homeowners and renters, and the significant difference between FMR and market rent points to viable opportunities for both hands-off and hands-on investors, particularly within the framework of the Section 8 program.
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.