Location: Perquimans County, NC | Metro: Gates County, NC HUD Metro FMR Area
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 | $1,350 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $2,130 |
| 4 Bedrooms | $2,520 |
| 5 Bedrooms | $2,923 |
| 6 Bedrooms | $3,274 |
| 7 Bedrooms | $3,536 |
| 8 Bedrooms | $3,713 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,130 | $265,628 | 0.8% | C |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 27919, located in Perquimans County, North Carolina, reveals several key insights. The Fair Market Rent (FMR) as determined by HUD for FY 2024 is set at $1050 per month. In contrast, the average market rent, according to Census ACS data, is significantly lower at $715 per month. This substantial difference means that voucher tenants in this area will cashflow positively at the FMR rate, providing a strong financial advantage for landlords.
To further understand the investment potential, consider the median home value in ZIP 27919, which stands at $242,680. Using this figure, we can calculate the rent-to-price ratio. At an average market rent of $715, the annual rent would be approximately $8,580, leading to a rent-to-price ratio of about 3.5%. This ratio indicates that rental properties in this area offer a reasonable return relative to their purchase price, especially when compared to the higher FMR rate of $1050, which translates to an annual rent of $12,600 and a rent-to-price ratio of about 5.2%. Such a high ratio suggests that rental income can cover mortgage payments and operating expenses effectively, even with a modest property value.
Note that the data on median days on market (DOM) and the percentage of homes that experienced price cuts is not available. However, the strong cashflow dynamics derived from the comparison between HUD's FMR and the actual market rent suggest that the primary investment angle in ZIP 27919 is cashflow. Landlords and small-portfolio investors can expect consistent positive cashflow from Section 8 tenants, making it a reliable and attractive investment opportunity.
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.