Location: Raleigh-Cary, NC | Metro: Raleigh-Cary, NC MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,530 |
| 1 Bedroom | $1,600 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,170 |
| 4 Bedrooms | $2,910 |
| 5 Bedrooms | $3,376 |
| 6 Bedrooms | $3,781 |
| 7 Bedrooms | $4,083 |
| 8 Bedrooms | $4,287 |
The ZIP code 27619, located within the Raleigh-Cary, NC MSA, presents a unique opportunity for Section 8 investors. The Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD) for this area in fiscal year 2024 is $1700. This figure is critical for determining the cash flow potential of rental properties in the region.
However, the market rent for ZIP 27619 is currently unavailable, which makes direct comparison challenging. Despite this, the $1700 FMR can still provide insight into the viability of voucher tenants. In areas where market rents are slightly above the FMR, voucher tenants typically cashflow marginally, meaning that landlords might see a slight profit or break even depending on the property's condition and location.
The median home value for ZIP 27619 is also not available, but it would be instrumental in calculating the rent-to-price ratio. This ratio helps investors understand how much they could potentially earn in rent relative to the cost of buying a home in the area. A higher rent-to-price ratio suggests better cash flow opportunities for rental investments.
The Days on Market (DOM) and the percentage of homes that experience price cuts are not available for ZIP 27619. However, these metrics are important when assessing the broader real estate market health and how it impacts the rental sector. Typically, a lower DOM and fewer price cuts indicate a stable housing market, which can benefit both renters and buyers.
In conclusion, while the exact market rent and median home values are not available, the $1700 FMR suggests that voucher tenants will likely cashflow marginally in standard units. The strongest investor angle in this ZIP code appears to be stability, given the lack of volatile market conditions that might otherwise affect cash flow or appreciation potential.
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.