Location: Warren County, NC | Metro: Warren County, NC
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 | $770 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,290 | $468,884 | 0.28% | F |
U.S. Census Bureau data (2024)
The Federal Housing Administration (FHA) Fair Market Rent (FMR) for ZIP 27551 is set at $940 for fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers, which is the amount that the government will pay towards your tenant's rent. It does not reflect the total rent you can charge your tenants. Landlords in this area should note that the average market rent, according to recent Census American Community Survey (ACS) data, is $1,105. This indicates that while the government subsidy might be $940, you could potentially collect an additional $165 from the tenant themselves, bringing the total rent closer to the market rate.
The 12.0% share of renters in ZIP 27551 suggests a moderate demand for rental properties. However, given the lower FMR compared to the average market rent, there is likely a significant portion of potential tenants who would benefit from the reduced financial burden offered by Section 8. This makes it a viable option for landlords looking to fill units that might otherwise remain vacant due to higher market rents.
If you're considering acquiring a property to use as a Section 8 rental, the median home value in ZIP 27551 is approximately $338,318. This is the typical price you might expect to pay for a home in this area, but remember, the FMR of $940 is what the government will contribute toward rent. You must ensure that this amount, plus any additional tenant contribution, covers your mortgage, maintenance, and other expenses associated with owning and managing a rental property.
Before finalizing your decision, verify that the property meets the HUD's Housing Quality Standards (HQS). These standards ensure that the unit is safe, decent, and sanitary for tenants. Non-compliance can lead to penalties and loss of rental income. Once confirmed, you can proceed with confidence, knowing that your investment aligns with the government's requirements and that you have a clear understanding of the financial landscape in ZIP 27551.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.