Location: Greene County, 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 | $1,110 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,460 | $138,619 | 1.05% | B |
| 3BR | $1,750 | $234,701 | 0.75% | D |
| 4BR | $2,320 | $336,610 | 0.69% | D |
| 5BR | $2,691 | $396,389 | 0.68% | D |
U.S. Census Bureau data (2024)
The ZIP code 27534, located in Goldsboro, NC, presents an interesting scenario for both renters and landlords. The median household income here stands at $62,574, while the market rate for rent, known as the Zillow Observed Rent Index (ZORI), is $1,474. This means that a significant portion of the monthly income goes towards rent, potentially straining household budgets.
To put this into perspective, the Fair Market Rent (FMR) for the fiscal year 2024 in this ZIP code is set at $1,230. This figure represents the maximum amount that a housing voucher would cover, based on federal guidelines. Comparing the ZORI to the FMR, it's evident that the market rate exceeds the voucher payment standard by $244 per month. This discrepancy highlights the affordability gap faced by many renters who rely on vouchers to secure housing.
With 47.6% of the population renting and a total population of 30,415, there is considerable competition among landlords for tenants. However, the financial disparity between the ZORI and the FMR suggests that voucher holders might struggle to find affordable housing options within the market rate. Landlords must consider the balance between accepting voucher payments, which ensure steady income but are capped at the FMR, and seeking cash-paying tenants willing to meet the higher market rates.
The takeaway for landlords is clear: accepting vouchers can stabilize occupancy and provide a reliable income stream, albeit at a lower rate than the market. On the other hand, targeting cash-paying tenants allows for higher rents but comes with the risk of increased vacancy rates due to the limited number of households capable of affording the ZORI. Landlords should carefully evaluate their property management goals and the local rental market dynamics before deciding on their tenant acquisition strategy.
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.