Section 8 Fair Market Rent (FMR) for ZIP 27524 - 2027

Location: Raleigh-Cary, NC | Metro: Goldsboro, NC MSA

Investment Score for ZIP 27524

D
Monthly Rent (2BR)
$1,220
Median Price (2BR)
$196,195
1% Rule
0.62%
Annual Yield
7.46%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size Monthly FMR
Studio$1,060
1 Bedroom$1,080
2 Bedrooms$1,220
3 Bedrooms$1,500
4 Bedrooms$1,980
5 Bedrooms$2,297
6 Bedrooms$2,573
7 Bedrooms$2,779
8 Bedrooms$2,918

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms Monthly FMR Median Price 1% Rule Grade
2BR $1,220 $196,195 0.62% D
3BR $1,500 $308,065 0.49% F
4BR $1,980 $404,996 0.49% F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population
13,999
Median Household Income
$75,827
Housing Units
5,837
Renter Percentage
26.2%
Occupancy Rate
87.2%
Renter Occupied
1,332

The ZIP code 27524, located in Four Oaks, NC, falls within the larger Raleigh-Cary, NC MSA metro area. When analyzing the key metrics for this ZIP code, it becomes evident that 27524 represents a unique value pocket within its metropolitan context.

The Fair Market Rent (FMR) for ZIP 27524 in fiscal year 2024 is set at $1280. This figure is notably higher than the market rent of $991, indicating a significant potential subsidy for landlords participating in the Section 8 program. The disparity between the FMR and the actual market rent suggests that rental properties in this area could benefit from a substantial financial cushion provided by the government.

The median home value in Four Oaks is listed at $310,361. This figure is lower than the typical home values found across the broader Raleigh-Cary, NC MSA, which often exceed $350,000. This discrepancy highlights Four Oaks as an affordable option for both homeowners and renters within the metro area.

With a renter share of 26.2%, Four Oaks has a notable portion of its residents living in rental housing. However, this percentage is not unusually high when compared to other ZIP codes within the Raleigh-Cary, NC MSA, where the average renter share can range from 20% to 35%. The combination of a relatively high renter share and lower home values points towards a potentially attractive market for Section 8 tenants.

In summary, ZIP 27524 stands out as a value pocket within the Raleigh-Cary, NC MSA. Its lower home values coupled with a higher FMR compared to the market rent makes it a favorable location for landlords who wish to participate in the Section 8 program. The presence of a moderate renter share further supports the idea that this area could be a sweet spot for such investments, offering a balance between affordability and government support.

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.