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 | $840 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $104,887 | 0.98% | C |
| 3BR | $1,400 | $203,805 | 0.69% | D |
| 4BR | $1,640 | $356,603 | 0.46% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 27809, located in Nash County, North Carolina, follow a specific formula that landlords must understand to manage their rental properties effectively. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) for FY 2024 is set at $860. This figure is specific to this ZIP code, meaning it reflects the rental rates deemed fair for this particular area.
Local market rents, according to the Census ACS, run at $686 for a similar unit. However, the Section 8 program does not pay the entire SAFMR amount directly to the landlord. Instead, it covers the difference between the tenant's contribution and the SAFMR, up to the maximum limit.
A Section 8 voucher holder in ZIP 27809 typically pays 30% of their adjusted income towards rent. If we assume an average adjusted income for a household qualifying for a two-bedroom voucher, the tenant's portion might be around $258 per month. This leaves a balance of $602 ($860 - $258) for the government to cover.
In addition to the base rent, there are utility allowances. These vary but generally add about $100 to $150 to the monthly reimbursement. Therefore, the total reimbursement from the government could range from $702 to $752 per month.
This means that landlords can expect to receive a total of $702 to $752 for a two-bedroom unit, which includes both the rent and a portion of utilities. Given the local market rent of $686, landlords would typically see a surplus when accepting Section 8 vouchers. In this case, the surplus ranges from $16 to $66 per month, depending on the utility allowance applied.
To summarize, landlords in ZIP 27809 should anticipate a reimbursement of approximately $702 to $752 for a two-bedroom apartment, which exceeds the local market rent of $686. This provides a financial cushion that can help offset any administrative costs associated with participating in the Section 8 program.
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.