Location: Harnett County, NC | Metro: Harnett County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
100.0% of the residents in ZIP code 27506 are renters, indicating a strong demand for rental properties in the area. This statistic highlights an opportunity for landlords and small-portfolio investors to capitalize on the local housing market. However, the $1130 Fair Market Rent (FMR) for zip code 27506 for fiscal year 2024 sets a benchmark that must be adhered to for Section 8 eligibility. It's important to note that the market rent for the area is currently unavailable, which means investors need to rely on the FMR as a guideline for setting competitive rental rates.
The median home value for ZIP 27506 is also not available, suggesting that the housing stock may be heavily skewed towards rental properties rather than owner-occupied homes. This further supports the idea that rental properties are a significant part of the housing landscape in this area. The median income figure is also missing, making it difficult to assess the financial health of the tenant pool. Despite these gaps in data, the high renter share suggests a robust market for rentals.
The Days on Market (DOM) and the percentage of price-cut shares are both not available, which could imply a fast-moving market where properties are rented quickly without the need for significant price adjustments. This is generally positive for landlords as it indicates a strong demand for rental units and a willingness among tenants to pay the asking price.
In summary, with 100.0% of the population renting and a defined $1130 FMR for fiscal year 2024, ZIP code 27506 presents a clear opportunity for those interested in Section 8 properties. The lack of detailed market data points to a market dominated by rental activity, which is favorable for rental property investments. Given the high renter share and the defined FMR, investing in Section 8 eligible properties in this ZIP code is advisable.
Verdict: Invest in Section 8 properties in ZIP 27506 given the 100.0% renter share and $1130 FMR.
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.