Location: Wilson County, 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 | $980 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,190 | $89,267 | 1.33% | A |
| 3BR | $1,590 | $206,121 | 0.77% | D |
| 4BR | $1,820 | $316,236 | 0.58% | F |
| 5BR | $2,111 | $382,986 | 0.55% | F |
U.S. Census Bureau data (2024)
The ZIP code 27803, located in Rocky Mount, NC, is characterized by a significant rental population, with 38.3% of the residents being renters. This makes it a viable market for landlords and small-portfolio investors interested in attracting Section 8 tenants. The total population of 20,055 suggests a substantial demand for rental housing.
The median household income in ZIP 27803 is $60,124, which provides a benchmark for assessing the affordability of rent. The average market rent of $1,103 represents approximately 22% of the median household income, indicating that rent is a significant portion of income for many households. This percentage aligns well with the Federal Market Rent (FMR) for the area, which is set at $1,130 for FY 2024, suggesting that rents are close to the government's benchmark for affordability.
Given these figures, landlords can expect a tenant pool that includes a mix of individuals and families who rely on Section 8 vouchers to cover their housing costs. These tenants will be looking for affordable housing options that do not exceed the FMR. Landlords should be prepared to meet the requirements set forth by the Housing Choice Voucher program, including maintaining properties up to certain standards and accepting a fixed rent amount determined by the local housing authority.
To summarize, ZIP 27803 is a renter-heavy area with a strong demand for affordable housing, making it an attractive location for Section 8 tenants. The typical rent eats into about one-fifth of the local income, closely matching the FMR, which indicates a healthy balance between rental costs and the financial capacity of the residents.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.