Location: Greensboro-High Point, NC | Metro: Greensboro-High Point, NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The lack of detailed income statistics makes it challenging to precisely determine how much of the local income is allocated towards rent. However, we can infer that the area might have a significant number of renters due to the urban setting and the absence of substantial homeownership data.
Comparing the market rent to the Fair Market Rent (FMR) set by HUD for FY 2024, which is $1,200 for ZIP 27412, suggests that the typical rent in the area could be lower or higher depending on the specific property type and condition. Given the limited data, we cannot calculate an exact percentage of local income spent on rent.
A landlord in ZIP 27412 should anticipate a tenant pool that includes individuals and families who rely on Section 8 vouchers. These tenants will likely have incomes below the median, necessitating assistance to afford housing. It's important for landlords to ensure their properties meet HUD standards and that they are prepared to manage tenants who may have varying financial situations.
To make informed decisions, landlords should consult local real estate experts or agencies that can provide more detailed statistics on renter demographics and income levels specific to ZIP 27412.
Data Sources: FMR data from HUD (2027). 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.