Location: Halifax County, NC | Metro: Halifax 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 | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,430 |
| 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 | $1,050 | $89,057 | 1.18% | B |
| 3BR | $1,430 | $148,223 | 0.96% | C |
| 4BR | $1,640 | $247,020 | 0.66% | D |
U.S. Census Bureau data (2024)
The ZIP code 27870, located in Roanoke Rapids, NC, is characterized by a significant portion of its population being renters. With a total population of 24,958, 41.6% of residents are renters, indicating a robust tenant pool that could be attractive for landlords and small-portfolio investors. The median household income in this area stands at $49,502, which provides a basis for understanding the financial capacity of potential tenants.
The typical market rent in this ZIP is $945 per month. This figure represents approximately 19.1% of the median household income, calculated by dividing the monthly rent by the annual income and multiplying by 12. This percentage suggests that while rent is a substantial expense, it remains manageable for many households given their income levels. However, it also implies that tenants will likely need assistance to cover housing costs, making them prime candidates for Section 8 vouchers.
The Fair Market Rent (FMR) for the metro area, as determined for fiscal year 2026, is set at $950. This closely aligns with the current market rent of $945, indicating that the rental rates in 27870 are competitive and reflective of broader regional standards. Landlords can expect that the demand for Section 8 vouchers will be high due to the relatively low median income and the proportion of residents who are renters.
In this ZIP code, landlords should anticipate tenants who rely on government subsidies to afford housing. These tenants will have incomes that fall below the eligibility threshold for Section 8 vouchers, typically around 50% of the Area Median Income (AMI). Given the median household income of $49,502, many families will qualify for such assistance. Tenants will likely include working individuals and families who face challenges in covering the cost of living without financial aid. The high percentage of renters and the alignment of market rents with the FMR suggest a strong presence of subsidized housing demand, making 27870 an ideal location for those interested in 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.