Location: Martin County, NC | Metro: Martin County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 27861 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $930 per month for fiscal year 2026. This figure represents the maximum amount that the housing authority will pay towards a tenant's rent under the Section 8 Housing Choice Voucher program. However, the local market rent data for 27861 is currently unavailable, which means landlords cannot directly compare the SAFMR to prevailing market rates.
To understand how much a voucher actually pays, consider the components of the reimbursement. The tenant is required to contribute 30% of their adjusted income toward the rent. For example, if a tenant has an adjusted monthly income of $1,000, they would contribute $300 ($1,000 * 30%) towards the rent. The remaining amount, up to the SAFMR limit of $930, is then covered by the housing authority. In this case, the housing authority would pay $630 ($930 - $300).
In addition to the base rent, there are utility allowances that can affect the total reimbursement. These allowances vary based on the size of the unit and other factors but generally provide a fixed amount for utilities such as electricity, water, and gas. If the utility allowance for a two-bedroom in 27861 is $150, the total reimbursement a landlord could receive would be $780 ($630 for rent + $150 for utilities).
This means that in ZIP 27861, landlords might face a reimbursement gap if the market rent exceeds the SAFMR plus utility allowances. Conversely, if the market rent is below these figures, landlords would have a surplus. Given the SAFMR of $930 and a hypothetical utility allowance of $150, landlords should expect a total reimbursement of $780 for a two-bedroom apartment, assuming the tenant contributes the standard 30% of their income. Without specific market rent data, it's impossible to quantify the exact gap or surplus, but landlords should aim to set their rents close to the SAFMR to avoid significant financial discrepancies.
Data Sources: FMR data from HUD (2027). 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.