Location: Raleigh-Cary, NC | Metro: Raleigh-Cary, NC MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
The ZIP code 27528 in Raleigh-Cary, North Carolina, presents unique characteristics that distinguish it from other areas within the region. Despite the lack of specific resident and economic data, the area stands out due to its particular dynamics in housing and rental markets.
The Fair Market Rent (FMR) for ZIP 27528 in fiscal year 2024 is set at $1280, which serves as a benchmark for rental rates supported by Section 8 vouchers. This figure is crucial for landlords and small-portfolio investors as it dictates the maximum allowable rent for Section 8 tenants. Without specific market rent data, it's imperative to monitor local trends closely to ensure competitiveness and compliance.
The voucher system can provide a stable source of income for landlords, especially in transitional areas where traditional rental agreements might be less predictable. Given the absence of detailed economic indicators such as median income and home values, the ZIP code appears to be in a transitional phase, suggesting that the rental market could be experiencing changes influenced by broader economic shifts or development activities.
To leverage the Section 8 program effectively, landlords should focus on maintaining properties up to the required standards and understanding the administrative processes involved. The $1280 FMR provides a clear guideline for setting rents, ensuring they remain attractive to potential tenants while also being economically viable for property owners.
In summary, ZIP 27528 in Raleigh-Cary, NC, offers a niche opportunity for those interested in Section 8 rentals. With the FMR established at $1280, the area's data signature leans towards being transitional, making it important for investors to stay informed about local market conditions and the benefits of participating in the Section 8 program.
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.