Location: Martin 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 | $810 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,320 |
| 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 | $1,010 | $79,927 | 1.26% | A |
| 3BR | $1,320 | $128,372 | 1.03% | B |
| 4BR | $1,660 | $162,124 | 1.02% | B |
U.S. Census Bureau data (2024)
ZIP code 27871 is located in a small, rural neighborhood in North Carolina. The area has a total population of 3,471 residents, with 31.5% of them being renters. This indicates a modest rental market presence. The median household income here is $46,172, which is relatively low compared to the national average. The median home value stands at $118,877, suggesting that the housing market is affordable but also reflects the overall economic conditions of the region.
The Fair Market Rent (FMR) for ZIP 27871 in fiscal year 2024 is set at $960, while the actual market rent based on Census ACS data is $782. This discrepancy means that landlords participating in the Section 8 program can expect to receive higher rent payments from the government than what the market would typically bear. Consequently, the difference between the FMR and the market rent provides an incentive for landlords to enroll their properties in the Section 8 program.
Given these economic factors, ZIP 27871 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the guaranteed rental income through the Section 8 program offers a stable cash flow with minimal tenant turnover risk. The higher FMR compared to the market rent ensures a positive spread, making it financially viable even in a low-income area.
Value-add buyers might find opportunities to improve property values and rents over time. With the current median home value being $118,877, there is potential for increasing the quality and thus the value of the properties. However, given the lower median income, any improvements should be balanced against the ability of tenants to afford slightly higher rents once the Section 8 subsidy is adjusted.
In summary, ZIP 27871 presents a clear opportunity for Section 8 investment, with a favorable gap between FMR and market rent. Landlords can choose either a passive approach, relying on the program's stability, or an active strategy, aiming to enhance property value and rental rates gradually.
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.