Section 8 Fair Market Rent (FMR) for ZIP 27358 - 2027

Location: Rockingham County, NC | Metro: Greensboro-High Point, NC HUD Metro FMR Area

Investment Score for ZIP 27358

Monthly Rent (2BR)

$1,400

Median Price (2BR)

$225,379

1% Rule

0.62%

Annual Yield

7.45%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,200
1 Bedroom	$1,250
2 Bedrooms	$1,400
3 Bedrooms	$1,800
4 Bedrooms	$2,130
5 Bedrooms	$2,471
6 Bedrooms	$2,768
7 Bedrooms	$2,989
8 Bedrooms	$3,138

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,400	$225,379	0.62%	D
3BR	$1,800	$415,381	0.43%	F
4BR	$2,130	$702,082	0.3%	F
5BR	$2,471	$595,947	0.41%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

15,685

Median Household Income

$138,717

Housing Units

5,761

Renter Percentage

5.5%

Occupancy Rate

94.1%

Renter Occupied

296

To determine if a landlord should buy in ZIP code 27358 (Summerfield, NC) for Section 8 purposes, follow this decision tree:

1) Does FMR $1300 (zip FY 2024) clear debt service on a $517,445 property?

Yes: If you can secure a property for $517,445, the Fair Market Rent (FMR) of $1300 per month is likely sufficient to cover your debt service. This assumes that your debt service is lower than or equal to the monthly rental income.
No: The FMR of $1300 does not cover the debt service on a $517,445 property. If your debt service exceeds $1300 per month, purchasing in this area would not be advisable under the Section 8 program.

2) Is market rent $1,022 (Census ACS) above, at, or below FMR?

Above: The market rent of $1,022 is below the FMR of $1300. This indicates that properties rented through Section 8 could command higher rents compared to the general market, potentially offering a financial advantage.
At: Not applicable in this scenario as the market rent is below the FMR.
Below: The market rent of $1,022 is below the FMR of $1300. This suggests that Section 8 tenants might pay more than what the general market offers, making it a favorable option.

3) Are 5.5% renters + N/A-day DOM enough demand?

It Depends: With 5.5% of the population being renters, there is some demand, but the Days on Market (DOM) is not specified. If the DOM is low, indicating quick turnover, then the demand is strong enough to consider investing. However, without a specific DOM figure, it's challenging to make a definitive recommendation. If the DOM is high, it could suggest a slower rental market, which might not support a Section 8 investment.

In summary, if the FMR of $1300 covers your debt service and you can take advantage of the higher rent relative to the market rate of $1,022, then Summerfield, NC is a viable location for Section 8 investments. However, the lack of a specific DOM figure means that the strength of rental demand must be assessed further before making a final decision.

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.