Location: Harnett County, NC | Metro: Harnett County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
The rent math in ZIP code 27546, Lillington, NC, does not favor landlords. The Fair Market Rent (FMR) set at $1050 for the fiscal year 2024 is significantly lower than the market rent indicated by ZORI at $1,575. This gap suggests that landlords receiving Section 8 subsidies will face reduced income compared to the market rate, making it less profitable.
Acquisition in this area is relatively affordable, with a median home value of $293,791. The average Days on Market (DOM) of 65 days indicates a moderately quick turnover time for listings, which is beneficial for potential buyers. Additionally, only 0.2% of homes have been listed with a price cut, suggesting that the housing market is stable and not heavily discounted.
Tenant demand in Lillington is substantial, with a population of 21,419 and 32.9% of residents being renters. This percentage translates to approximately 7,035 individuals who are actively seeking rental properties, providing a solid base of potential tenants for landlords and small-portfolio investors.
Despite the strong tenant demand, the profitability of rental properties in ZIP 27546 under Section 8 is questionable due to the significant disparity between the FMR and market rents. While the median home value and market stability offer a favorable environment for acquiring properties, the financial benefits for landlords relying solely on Section 8 subsidies will be limited. Investors should consider diversifying their portfolio beyond just Section 8 properties to balance risk and reward.
Data Sources: FMR data from HUD (2027). 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.