Location: Martin County, NC | Metro: Martin County, NC
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 | $860 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,470 | $112,057 | 1.31% | A |
U.S. Census Bureau data (2024)
The classification of ZIP code 27840 hinges on the interplay between its yield potential and stability metrics. To begin, let's examine the yield aspect. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,030. However, the specific FMR for ZIP 27840 is not available, indicating that it may closely align with the broader metro average. Given the median home value of $104,219, an investor could expect a decent rental yield if they can leverage this lower price point to secure properties at a reasonable cost. This suggests a higher yield potential compared to areas with higher property values.
Moving onto stability, ZIP 27840 exhibits several indicators that provide insight into its market conditions. The percentage of renters stands at 9.7%, which is relatively low, hinting at a less stable tenant base. The lack of data regarding the number of days on the market (DOM) complicates the analysis, but it underscores the importance of understanding local trends through other means, such as speaking with local real estate agents or analyzing recent sales data. Additionally, the average income level of $37,857 is a critical factor, as it reflects the financial capacity of potential tenants to meet rental obligations. This figure suggests that while there might be some stability due to the lower property costs, the overall income level could impact the reliability of rent payments.
In summary, ZIP 27840 leans towards being a high-yield/low-stability market. The key figures driving this assessment include the lower median home value of $104,219 and the higher FMR relative to property costs, which support a potentially attractive rental yield. Conversely, the low percentage of renters (9.7%) and modest average income levels ($37,857) indicate a less stable environment, where the risk of tenant turnover and rent payment issues is higher. This classification advises landlords and small-portfolio investors to proceed with caution, considering the need for robust screening processes and possibly offering more competitive rental terms to attract and retain tenants.
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.