Location: Vance County, NC | Metro: Granville County, NC
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,430 | $286,773 | 0.5% | F |
U.S. Census Bureau data (2024)
The ZIP code 27507 is situated in a neighborhood characterized by a relatively small population of 1,811 residents, where only 11.2% are renters. This indicates a predominantly owner-occupied area, suggesting a community that values homeownership. The median household income in this region is notably high at $120,849, which places it well above the national average. Accompanying this economic strength is a median home value of $247,834, reflecting the overall wealth and property valuation in the area.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 27507 as of the fiscal year 2024 is set at $1,000. It's important to note that there is no specific data available for the market rent, which might imply that the local rental market is less active compared to other areas. Given the high median income and limited rental presence, it suggests that the rental market could be quite competitive, with landlords potentially able to charge premiums over the FMR if they offer high-quality properties.
Considering these factors, ZIP 27507 may not be ideal for a hands-off voucher operator due to the low percentage of renters and the potential need for more engagement to attract tenants. Instead, this area seems better suited for a hands-on value-add buyer who can invest in improving properties to meet the standards preferred by the wealthier demographic. Such an approach would likely yield higher returns given the strong economic indicators of the region.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.