Location: Wilson County, NC | Metro: Greenville, 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 | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $129,957 | 0.79% | D |
| 3BR | $1,400 | $186,399 | 0.75% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 27829 reveals key insights for landlords and small-portfolio investors considering investment in this area. Firstly, examining the rent math, the Fair Market Rent (FMR) set at $980 for fiscal year 2024 contrasts significantly with the market rent of $701 as reported by the Census ACS. This indicates that landlords might struggle to achieve rents that meet or exceed the FMR without substantial renovations or improvements to properties.
Secondly, the acquisition affordability in ZIP 27829 is questionable given the median home value of $190,456. The lack of data on days on market (DOM) and the percentage of homes requiring price cuts suggests a stable but potentially uncompetitive market for property purchases. Without these metrics, it's challenging to gauge how quickly homes sell and if they require price adjustments, which are crucial factors for assessing acquisition costs and risks.
Lastly, regarding tenant demand, the ZIP code hosts a population of 1,664, with 16.2% of residents being renters. This relatively low renter share implies a smaller pool of potential tenants, which could affect occupancy rates and rental income stability. Landlords would need to ensure their properties offer competitive amenities and pricing to attract and retain tenants in this environment.
Verdict: In ZIP 27829, the discrepancy between FMR and market rent suggests that achieving high rental yields will be difficult without significant property enhancements. The median home value is moderate, but without detailed DOM and price-cut data, the feasibility of acquiring properties at favorable terms remains uncertain. Tenant demand is limited due to the low renter share, necessitating strategic property management and marketing efforts to maintain occupancy. Overall, while there are opportunities, they come with challenges that require careful consideration and planning.
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.