Location: Vance County, NC | Metro: Vance County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The ZIP code 27584 presents several challenges for potential Section 8 landlords. First, tenant turnover can be problematic due to the significant difference between the market rent and the Fair Market Rent (FMR) of $1,010 set for FY 2026. Landlords might struggle to attract tenants willing to pay market rates if they are accustomed to the subsidized FMR. Second, vacancy exposure is a concern given the lack of data on the days on market (DOM), which could indicate difficulty in filling vacancies promptly. This delay could result in lost rental income and increased expenses related to vacancy management.
Deferred maintenance is another issue, especially considering the median income of $2,499. With limited financial resources, tenants may not prioritize home improvements, leading to higher maintenance costs for landlords. The absence of data on typical home values further complicates the assessment of potential repair and renovation needs.
However, these risks must be weighed against the favorable aspect of a 60.0% renter share in the area. High renter density typically translates into a robust demand for rental properties, including those that accept Section 8 vouchers. This demand can help mitigate the risk of vacancies and ensure a steady stream of tenants.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.