Location: Warren County, NC | Metro: Warren County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
To understand the economics of Section 8 in ZIP 27570, it's essential to know the SAFMR (Standard Area Fair Market Rent) for a two-bedroom apartment is set at $930 for the fiscal year 2026. This figure represents the maximum amount that the housing authority will pay on behalf of a tenant under the Section 8 Housing Choice Voucher program. It's important to note that the local market rent for this area is currently not available, which can make comparisons challenging.
The SAFMR does not cover the entire cost of renting a two-bedroom unit. Tenants are responsible for paying a portion of their income towards rent, typically around 30%. In addition to the rent subsidy, the housing authority also provides utility allowances, which vary based on the size of the household and the location. For a two-bedroom apartment, the total utility allowance might range from $100 to $200 per month, depending on the specifics of the voucher holder's situation.
Let's walk through an example calculation. If a landlord charges $930 for a two-bedroom apartment, and the tenant has a utility allowance of $150, the total monthly payment would be $1080. However, the tenant must contribute their own share, usually 30% of their adjusted monthly income. For instance, if the tenant's adjusted monthly income is $1000, they would need to pay $300 towards rent and utilities. Therefore, the housing authority would pay the remaining $780 ($930 rent - $150 utilities).
In ZIP 27570, since the SAFMR is set specifically for this ZIP code, it reflects the local rental market conditions. Landlords should ensure their rental rates do not exceed the SAFMR to maximize their chances of receiving full payment from the housing authority. If the actual market rent were higher than the SAFMR, landlords would face a reimbursement gap, meaning they wouldn't receive the full rent they charge from the voucher program. Conversely, if the market rent is lower than the SAFMR, landlords could potentially benefit from a surplus, where the housing authority's reimbursement exceeds the tenant's rent.
Given the SAFMR of $930 for a two-bedroom unit in ZIP 27570, landlords can expect to receive a reimbursement close to this amount once the tenant's contribution and utility allowances are factored in. The exact reimbursement gap or surplus depends on the actual market rent, which is currently unavailable. However, landlords should aim to keep their rents in line with the SAFMR to avoid financial discrepancies.
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.