Location: Greensboro-High Point, NC | Metro: Greensboro-High Point, NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
The ZIP code 27413 is located in Greensboro, NC. As of July 1, 2025, the total population in this area is 1,867, with a significant portion, 1,835 or 98.3%, residing in group quarters such as nursing facilities or correctional institutions. This indicates a unique demographic composition, heavily reliant on institutional housing.
The median household income is $10,000, significantly lower than the state and national averages, and the average household income is $61,267. The median home value is $275,000, and the average home value is $362,500. Given these figures, the housing affordability index stands at 0, meaning the area has very low affordability for residents with median income levels.
Moving to the economic side, the Fair Market Rent (FMR) for ZIP code 27413 in fiscal year 2024 is set at $1200. This figure is crucial for landlords and investors considering Section 8 properties, as it reflects the maximum rent allowed under the program. In comparison, the market rent remains unspecified in the provided data, suggesting a need for further research to understand how it aligns with the FMR.
Given the low median income and high median home value, this area is likely better suited for hands-on value-add buyers rather than hands-off voucher operators. The low affordability index implies that tenants might struggle to cover rent even with vouchers, necessitating active management and potential renovations to attract and retain residents. For those willing to invest time and capital into improving property value and tenant satisfaction, ZIP 27413 presents opportunities for growth and profitability.
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.