Location: Greensboro-High Point, NC | Metro: Burlington, NC MSA
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 | $1,020 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,510 |
| 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 |
|---|---|---|---|---|
| 2BR | $1,200 | $216,140 | 0.56% | F |
| 3BR | $1,510 | $287,629 | 0.52% | F |
| 4BR | $1,840 | $356,821 | 0.52% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 27298 in Liberty, NC, for fiscal year 2024 is set at $1190. This figure represents the payment standard for Section 8 housing vouchers in your area, which means it's the maximum amount that the Housing Choice Voucher program will pay towards a tenant's rent. It does not reflect the total rent you can charge, but rather the ceiling on what the government subsidy will cover.
To put this into perspective, the average rent for the same ZIP code according to the U.S. Census Bureau's American Community Survey is $887. This indicates that the FMR is higher than the typical market rent, potentially providing a better financial cushion for landlords participating in the Section 8 program.
The 31.9% of residents who are renters suggests a significant portion of the population is interested in rental properties. This percentage can be an indicator of demand for rentals, including those that accept Section 8 vouchers. However, it's important to note that the actual number of Section 8 tenants looking for homes may be lower due to the limited availability of vouchers.
When considering the acquisition cost of a property in ZIP 27298, the median home value is approximately $281,051. This figure is crucial when evaluating whether the income from a Section 8 rental can offset the initial investment and ongoing costs such as maintenance, taxes, and insurance.
Before committing to a Section 8 rental, one critical step is to verify the condition of the property against the Housing Quality Standards (HQS). These standards ensure that the property meets certain basic safety and habitability requirements. Failure to meet these standards can result in penalties or loss of participation in the program.
In summary, the FMR of $1190 provides a reliable income stream for landlords in ZIP 27298, especially compared to the average rent of $887. With 31.9% of the population being renters, there is a steady demand for rental properties, though the competition for Section 8 tenants may vary. The median home value of $281,051 should be factored into your financial planning to ensure profitability. Finally, ensuring your property meets HQS is essential before entering 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.