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 |
ZIP 27658, located in the Raleigh-Cary, NC MSA, can serve as a cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 27658 in fiscal year 2024 is set at $1700 for a one-bedroom unit. Given the lack of specific market and median home value data, the FMR serves as a reliable benchmark for determining rental income potential.
The absence of recent market data suggests stability rather than rapid appreciation, making it less suitable as an appreciation play. Additionally, without precise median income and renter share percentages, it's challenging to categorize 27658 purely as a diversifier. However, the consistent FMR indicates a steady stream of government-backed rental income, which is crucial for maintaining positive cash flow.
The climate impact analysis reveals a moderate risk of flooding, affecting 8% of properties, and a moderate risk of wildfire, impacting 4%. Notably, all properties in 27658 face a major risk of severe wind events. These environmental factors highlight the importance of thorough due diligence when considering properties in this ZIP code.
In conclusion, ZIP 27658 is best positioned as a cash-flow anchor in a Section 8 portfolio strategy, offering predictable and stable rental income based on the established FMR of $1700. This consistency helps balance out the volatility often seen in other parts of the real estate market.
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.