Section 8 Fair Market Rent (FMR) for ZIP 27532 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 27532, located in North Carolina, offers a unique opportunity for real estate investors interested in the Section 8 housing market. This area has been identified as a growing market with increasing demand for affordable housing options. The following analysis provides key insights into the rental and property values, income levels, and other critical factors that impact investment decisions.

• The Fair Market Rent (FMR) for ZIP 27532 for fiscal year 2024 is set at $1090, indicating the maximum amount a Section 8 tenant can pay for a two-bedroom apartment in this region.
• Market rent data is currently unavailable for ZIP 27532, making it difficult to compare the FMR against private market rates.
• The median home value in this ZIP code is also not available, which suggests that there might be limited data on residential property sales in the area.
• The percentage of residents who are renters is unknown, but this figure is crucial for understanding the local rental market dynamics and potential occupancy rates.
• The Days on Market (DOM) statistic is not available, which would normally provide insight into how quickly properties are rented out in this area.
• Median income data for ZIP 27532 is currently unavailable, which is important for assessing the financial stability of potential tenants and their ability to meet rent obligations.

Given the available data, the FMR of $1090 for a two-bedroom unit presents a clear guideline for landlords participating in the Section 8 program. However, the lack of market rent and median home value data means that comparisons to the broader housing market are challenging. Without knowing the renter share and DOM, it's hard to gauge the competitiveness of the rental market and the speed at which units are typically leased. Lastly, the absence of median income data complicates the evaluation of tenant creditworthiness. For investors, this ZIP code requires careful consideration of the specific benefits and challenges posed by the Section 8 program, alongside the need for further research into local market conditions and tenant demographics.

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.