Location: Dare County, NC | Metro: Dare 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 | $1,190 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,510 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,510 | $377,330 | 0.4% | F |
| 3BR | $1,920 | $470,715 | 0.41% | F |
| 4BR | $2,000 | $609,320 | 0.33% | F |
| 5BR | $2,320 | $913,936 | 0.25% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 27915 in North Carolina hinges on specific figures that reveal its potential for real estate investment, particularly in relation to Section 8 housing. The analysis will focus on two primary axes: yield and stability.
On the yield axis, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,430. This figure represents the average rent price for a property in this ZIP code, which is significantly higher than the median home value of $555,344. The disparity between these figures suggests a relatively high yield potential, as rental income can be substantial compared to the cost of property acquisition.
Regarding stability, the data indicates that approximately 15.4% of residents are renters, which provides a moderate level of stability. However, the lack of data on days on market (DOM) introduces an element of uncertainty. The median household income in the area is $35,365, which is lower than the national average and may impact the ability of tenants to consistently meet their rental obligations.
To classify ZIP 27915, it is evident that the area presents a mix of high yield and low stability characteristics. The high FMR relative to the median home value points towards a market with strong cash flow potential, but the lower median income and limited data on DOM suggest a less stable tenant base and possibly longer periods for property turnover.
Given these factors, ZIP 27915 leans towards being a high-yield/low-stability flip-style market. Landlords and small-portfolio investors should be prepared for the possibility of higher vacancy rates and tenant turnover, while also recognizing the potential for significant rental income per unit. This classification is driven by the high rental yields and the lower stability indicators, such as median income and the absence of DOM data.
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.