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 | $1,120 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,310 | $187,494 | 0.7% | D |
| 3BR | $1,620 | $279,320 | 0.58% | F |
| 4BR | $1,870 | $385,361 | 0.49% | F |
U.S. Census Bureau data (2024)
Siler City, NC, located in Chatham County, has a distinct demographic profile with 19,198 residents, where 32.5% of the population rents their homes. The median income in ZIP 27344 is $57,320, which is notably lower than the median home value of $258,077. This suggests that homeownership is relatively expensive compared to the average income level.
The economic dynamics of Section 8 vouchers in Siler City are particularly interesting. The Fair Market Rent (FMR) for a Section 8 voucher in ZIP 27344 for fiscal year 2024 is set at $1,190. However, the current market rent, according to Census ACS data, is $1,056. This means that landlords accepting Section 8 vouchers can charge slightly above the market rate, providing a modest buffer against potential vacancy rates.
The data signature for ZIP 27344 indicates a stable environment for both landlords and small-portfolio investors. The relatively high median home value suggests a demand for housing in the area, while the FMR being higher than the market rent offers a favorable condition for those willing to participate in the Section 8 program. Landlords should be aware of the steady rental market and the opportunity to attract tenants through the use of Section 8 vouchers.
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.