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 | $890 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $199,794 | 0.51% | F |
| 3BR | $1,310 | $271,769 | 0.48% | F |
| 4BR | $1,540 | $299,228 | 0.51% | F |
U.S. Census Bureau data (2024)
In ZIP code 27317, which encompasses Randleman, NC, and part of Randolph County, the economics of Section 8 housing are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment is set at $960 for fiscal year 2024. This figure is specific to this ZIP code, reflecting the localized rental market conditions.
The local market rent for a two-bedroom unit, according to Census ACS data, is $837. This means that landlords in ZIP 27317 can potentially charge up to $960 for a two-bedroom apartment under the Section 8 program, which is higher than the average market rate.
A landlord participating in Section 8 receives payments from the Housing Choice Voucher Program. These payments cover the difference between the tenant's contribution and the total rent. For a two-bedroom apartment, the tenant typically pays 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,600 per month, the tenant would pay around $480 towards rent. The remaining amount, up to the SAFMR, is covered by the voucher program.
In addition to covering the rent, the voucher also includes utility allowances. The standard utility allowance for a two-bedroom apartment is approximately $250. Therefore, the total reimbursement a landlord might receive for a two-bedroom apartment could be calculated as follows:
This brings the total potential reimbursement to $730 ($480 for rent plus $250 for utilities).
Given the local market rent of $837, landlords in ZIP 27317 would face a reimbursement gap if they charge the market rate. The gap would be $837 - $730 = $107 per month. Alternatively, if a landlord charges the SAFMR rate of $960, the gap increases to $960 - $730 = $230 per month.
To summarize, landlords in ZIP 27317 should expect a reimbursement gap when participating in the Section 8 program. At the local market rent of $837, the gap is $107 per month, while at the SAFMR rate of $960, the gap is $230 per month. This gap represents the shortfall between what the program reimburses and the actual rent charged.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.