Section 8 Fair Market Rent (FMR) for ZIP 27879 - 2027

Location: Greenville, NC | Metro: Greenville, NC MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$840
1 Bedroom	$840
2 Bedrooms	$1,020
3 Bedrooms	$1,330
4 Bedrooms	$1,670
5 Bedrooms	$1,937
6 Bedrooms	$2,169
7 Bedrooms	$2,343
8 Bedrooms	$2,460

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

307

Median Household Income

$32,500

Housing Units

164

Renter Percentage

15.3%

Occupancy Rate

87.8%

Renter Occupied

The economics of Section 8 in ZIP code 27879 are straightforward when you break them down. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for FY 2024 is set at $1290. This figure represents the maximum amount that a Section 8 housing voucher can cover for rent in this area. However, it's important to understand that the local market rent, based on Census ACS data, is significantly lower at $767.

A landlord might wonder how much they will actually receive once the tenant's portion and utility allowances are factored into the equation. Here’s a step-by-step breakdown:

Tenant Portion: Typically, tenants must pay 30% of their adjusted income toward rent. If we assume an average adjusted income of $1500 for a tenant in this ZIP code, the tenant would be responsible for approximately $450.
Utility Allowances: These vary but generally do not cover the entire cost of utilities. Landlords should expect to receive the SAFMR minus the tenant's portion and any applicable utility allowances.

In ZIP 27879, the typical reimbursement gap or surplus can be calculated by comparing the SAFMR to the local market rent. Given the SAFMR of $1290 and the local market rent of $767, landlords who participate in the Section 8 program can expect a surplus of $523 per month before accounting for utilities and other expenses. This surplus is the difference between what the voucher covers and the actual market rent, which is beneficial for landlords looking to ensure a steady income stream that exceeds the local rental rates.

Note that the SAFMR is specifically tailored to this ZIP code, meaning it reflects the unique economic conditions of 27879. Therefore, landlords should consider this higher reimbursement rate when deciding whether to accept Section 8 vouchers for their properties in this area.

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.