Location: Rocky Mount, NC | Metro: Rocky Mount, NC MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,130 | $74,852 | 1.51% | A+ |
| 3BR | $1,520 | $133,360 | 1.14% | B |
| 4BR | $1,730 | $178,656 | 0.97% | C |
U.S. Census Bureau data (2024)
The ZIP code 27801, located in Rocky Mount, North Carolina, stands out due to its unique demographic and economic characteristics. With a population of 19,532 residents, it has a notable rental rate of 50.7%, indicating a significant portion of the community lives in rented properties. The median income in this area is $44,884, which is lower than the national average, while the median home value sits at $120,577, suggesting a moderate housing market.
In terms of Section 8 economics, the Fair Market Rent (FMR) for ZIP 27801 for fiscal year 2024 is set at $1,010, significantly below the market rent index (ZORI) of $1,222. This means that landlords participating in the Section 8 program can expect a shortfall of approximately $212 per month for each unit they lease under the program. However, the federal subsidy helps cover the gap between the tenant's contribution and the market rent, ensuring steady income for landlords despite the lower FMR.
The data signature for ZIP 27801 suggests a stable environment. The high rental rate indicates a consistent demand for rental properties, and the moderate median home value implies a balanced market where homeownership remains attainable for many residents. While the median income is relatively low, it aligns with the local cost of living, making the rental market accessible for a large segment of the population. For landlords and small-portfolio investors, this stability translates into predictable cash flows and manageable risks.
To summarize, Rocky Mount's ZIP 27801 offers a stable yet economically challenging environment for landlords. The significant disparity between the FMR and ZORI highlights the financial dynamics at play, but the overall stability of the market provides a solid foundation for investment in rental properties.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.