Section 8 Fair Market Rent (FMR) for ZIP 27402 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 27402, located in North Carolina, is a region characterized by its modest-sized rental market and limited availability of recent statistical data. For investors looking to understand the dynamics of this area, it's essential to consider the available figures carefully.

• The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1200.
• Market rent data is currently unavailable, making it difficult to compare actual rental rates with the FMR.
• The median home value is also not reported, indicating a lack of comprehensive residential property valuation information.
• Renter share data is missing, which would provide insight into the percentage of residents who prefer renting over owning.
• The days on market (DOM) for rental listings is not specified, leaving out a key indicator of how quickly properties are leased.
• Median income data is not available, which could have given us a clearer picture of the economic status of the residents and their ability to pay higher rents.

Despite the scarcity of detailed market data, the FMR of $1200 suggests that rental prices are relatively stable and affordable. However, the absence of market rent, median home value, renter share, DOM, and median income figures indicates a need for further research and possibly direct inquiries into local real estate agencies. This analysis points to a conservative approach for investors, focusing on properties that can be rented at or slightly above the FMR without overpricing them, given the limited demand signals present in the data.

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.