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 27636 is located in Raleigh, North Carolina, and serves a commercial facility in the southwest part of the city. It is not a residential community, as evidenced by the lack of population data available. The area is primarily dedicated to office or commercial tenants, with 171 business delivery points listed.
Given the absence of population and residential statistics, we cannot provide a typical demographic breakdown such as the percentage of renters or median income and home value. However, focusing on the economic viability for landlords and small-portfolio investors, the Fair Market Rent (FMR) for ZIP 27636 stands at $1700 for fiscal year 2024. This figure represents the average rent price for a standard unit in the area, set by HUD for determining rental assistance payments under the Section 8 program.
The FMR of $1700 provides a benchmark for landlords who might be considering participating in the Section 8 program. Since there is no specific market rent data available for this ZIP code, the FMR serves as a reliable indicator for setting rental rates for subsidized units. For a hands-off voucher operator, the ZIP code 27636 offers a straightforward investment opportunity with clear rental guidelines. However, for a hands-on value-add buyer, the limited residential nature of the area presents challenges, as opportunities for property improvements and increased rental value may be constrained.
In summary, ZIP 27636 is a commercial-focused area in Raleigh, NC, with no residential population data available. For investors, the FMR of $1700 offers a stable rental rate for Section 8 units, making it suitable for hands-off operators. Yet, the lack of residential characteristics limits the potential for active management strategies aimed at enhancing property value and rental income.
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.