Location: Martin County, NC | Metro: Martin 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 | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $77,959 | 1.31% | A |
| 3BR | $1,340 | $142,906 | 0.94% | C |
| 4BR | $1,340 | $185,584 | 0.72% | D |
| 5BR | $1,554 | $191,478 | 0.81% | C |
U.S. Census Bureau data (2024)
The median income in Williamston, NC (ZIP 27892) stands at $48,223. At first glance, this figure suggests that affording a market rate rental of $760 per month could be challenging for many households. To put this into perspective, let's consider the financial implications for both renters and landlords.
A household earning the median income would allocate approximately 20% of their gross monthly income toward rent at the market rate. This leaves limited room for other expenses, such as utilities, groceries, and transportation, which can strain a family's budget. The Federal Market Rent (FMR) for the area, set at $950 per month for fiscal year 2026, represents a higher threshold that could make securing housing even more difficult for low-income families.
With 34.0% of the 13,262 residents being renters, the competition among landlords is significant. The affordability gap between the median income and the market rate rent, as well as the FMR, means that many potential tenants will seek assistance through housing vouchers. These vouchers are designed to bridge the gap between what a tenant can afford and the market rate, up to the FMR limit.
For landlords, understanding the dynamics of voucher versus cash-pay strategies is crucial. While cash-paying tenants might offer higher immediate returns, the reliance on housing vouchers indicates a substantial portion of the rental market is seeking subsidized options. Accepting vouchers allows landlords to tap into a stable source of rental income, supported by government funds, ensuring consistent occupancy rates.
In conclusion, given the median income and the current market rate of $760, coupled with the FMR of $950, landlords in Williamston should consider the benefits of accepting housing vouchers. This strategy aligns with the needs of a significant portion of the rental market and offers a reliable stream of income, especially when compared to the volatility of cash-paying tenants who may struggle with the affordability gap.
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.