Location: Winston-Salem, NC | Metro: Winston-Salem, NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,120 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
To profile ZIP code 27285 in Unknown, NC, as a Section 8 tenant pool, we must first acknowledge that the specific population and percentage of renters are currently unavailable. Similarly, the median household income for this area has not been provided, making it challenging to draw definitive conclusions about the rental market dynamics.
Despite these limitations, we can still infer some aspects based on the available information. The Fair Market Rent (FMR) for ZIP 27285 is set at $1140 for FY 2024. This figure serves as a benchmark for comparing market rents against federal standards. Without the exact market rent, it's impossible to calculate the precise percentage of local income consumed by rent. However, if we assume that the market rent aligns closely with the FMR, then the typical rent would be $1140 per month.
The scarcity of data on the percentage of renters and median income suggests that the area might not be heavily reliant on rental housing, which could indicate a less dense Section 8 voucher demand. In areas with high percentages of renters, there tends to be a higher concentration of voucher holders, as they seek affordable housing options. Conversely, an area dominated by homeowners might have fewer voucher users, given the preference for owning property over renting.
Landlords in ZIP 27285 should prepare for a tenant pool that likely includes individuals who qualify for the Section 8 program, given the FMR of $1140. These tenants will typically have their rent subsidized up to the FMR level, meaning landlords can expect a relatively stable income source from the government for the portion of rent covered by the voucher. It's important for landlords to ensure compliance with HUD regulations to maintain eligibility for receiving voucher payments.
In conclusion, while detailed specifics on the rental market and income levels in ZIP 27285 are lacking, landlords can anticipate a tenant pool that includes Section 8 voucher holders. The FMR provides a useful guideline for setting rental prices that attract this type of tenant, ensuring that rent remains affordable for those relying on government assistance.
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.