Location: Hertford County, NC | Metro: Hertford County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The ZIP code 27922 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant risk, with the market rent at $825 being notably lower than the Fair Market Rent (FMR) of $930 for the metro area in fiscal year 2026. This gap suggests that tenants might be more likely to leave once their financial situation improves, seeking higher-quality housing outside the subsidized program. Additionally, vacancy exposure remains a concern due to the lack of data on days on market (DOM), which indicates an uncertain timeframe for filling vacancies. The absence of typical home values also complicates assessing the potential for deferred maintenance issues, although the median income of $49,250 provides some insight into the economic conditions of the area.
Despite these risks, there are mitigating factors that can support a Section 8 investment in ZIP 27922. With a 21.8% renter share, the area boasts a high concentration of renters, many of whom are likely to have a strong demand for housing vouchers. This high renter density ensures a steady pool of potential tenants, reducing the likelihood of extended vacancy periods. Furthermore, the disparity between market rent and FMR can be seen as an opportunity to attract tenants who benefit from the subsidy, potentially leading to a stable occupancy rate.
In conclusion, while there are notable risks associated with tenant turnover and vacancy exposure, the high renter density and demand for housing vouchers make ZIP 27922 a moderate risk for a first-time Section 8 landlord. Proper management and understanding of the local rental market can help mitigate these risks effectively.
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.