Location: Rocky Mount, NC | Metro: Rocky Mount, NC MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The analysis of ZIP 27881, part of the Rocky Mount, NC MSA, reveals several key points relevant to Section 8 real-estate investment.
The first question is whether the rent math works. The Fair Market Rent (FMR) for ZIP 27881 in fiscal year 2024 is set at $940. However, without specific data on market rent, it's challenging to directly compare these figures. If the market rent is significantly higher, landlords might find themselves losing out on potential revenue by participating in the Section 8 program. Conversely, if market rents are around or below $940, the program could be financially viable.
Regarding the affordability of property acquisition, the median home value is not specified, nor is the average number of days on the market (DOM) or the percentage of homes that require a price cut. This lack of data makes it difficult to assess the ease or difficulty of acquiring properties in this area. Landlords should seek local real estate agents or online resources to get a clearer picture of the current market conditions for property purchases.
Tenant demand is strong in ZIP 27881, with a population of 32 and a substantial 64.7% of residents being renters. This high percentage of renters indicates a robust demand for rental housing, which can be beneficial for Section 8 landlords who are looking for consistent occupancy rates.
Verdict: Despite the lack of specific market rent and property acquisition data, the high renter share in ZIP 27881 suggests a favorable environment for landlords interested in the Section 8 program. The FMR of $940 should be compared against actual market rents to determine financial viability. Landlords should investigate further into the local real estate market to understand the costs and challenges associated with property acquisition in this area. With a strong tenant base, ZIP 27881 could prove to be a stable investment opportunity for those willing to engage with the specifics of the local housing market.
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.