Location: Goldsboro, NC | Metro: Goldsboro, NC MSA
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 | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,150 | $104,601 | 1.1% | B |
| 3BR | $1,380 | $217,281 | 0.64% | D |
| 4BR | $1,820 | $315,283 | 0.58% | F |
| 5BR | $2,111 | $357,455 | 0.59% | F |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP 27530, located in Goldsboro, NC, reveals some key insights into the potential investment opportunities in this area. For a two-bedroom unit, the Fair Market Rent (FMR) for FY 2024 is set at $1040 annually, while the Zillow Observed Rent Index (ZORI) indicates a market rent of $1,271 per month.
To calculate the implied gross yield, we must first annualize the rents. The annualized FMR for a two-bedroom unit is $1040 * 12 = $12,480. The annualized market rent is $1,271 * 12 = $15,252. Given the median home value of $179,302, the gross yield based on the FMR would be ($12,480 / $179,302) * 100 = 6.96%. In contrast, the gross yield based on the market rent would be ($15,252 / $179,302) * 100 = 8.51%.
Considering the local context, a 44.0% renter density suggests a significant portion of the population is likely to be interested in rental properties, including those subsidized by Section 8. Additionally, the 31-day Days on Market (DOM) indicates that rental units in this ZIP code are typically occupied relatively quickly, which supports the higher market rent scenario as being more realistic.
However, the FMR-based gross yield of 6.96% should also be considered, especially for properties that are likely to participate in the Section 8 program. This lower yield reflects the government-set limits on what can be charged to tenants who receive rental assistance, which can affect the overall profitability of a property.
In summary, the implied gross yields for a two-bedroom unit in ZIP 27530 are 6.96% under the Section 8 FMR and 8.51% based on market rents. While the higher market rent yield appears more achievable due to the quick turnover indicated by the 31-day DOM, the lower FMR yield is a necessary consideration for properties that intend to serve the Section 8 population.
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.