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 | $1,010 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $464,463 | 0.28% | F |
| 3BR | $1,640 | $589,620 | 0.28% | F |
| 4BR | $1,710 | $736,076 | 0.23% | F |
| 5BR | $1,984 | $1,310,822 | 0.15% | F |
U.S. Census Bureau data (2024)
The ZIP code 27959 in North Carolina presents a dynamic rental market influenced by several key factors. The Fair Market Rent (FMR) for the area, set at $1,270 for fiscal year 2026, is notably higher than the current market rent of $1,005 as reported by the Census American Community Survey (ACS). This suggests that there is upward pressure on rents, indicative of a market where demand is likely outpacing supply.
A price-cut share of just 0.1% implies that landlords in this area rarely need to lower their asking prices to attract tenants, further supporting the notion of a tight rental market. While the days on market (DOM) data is not available, the low price-cut share indicates that properties are quickly rented once listed, without the necessity for prolonged negotiations or significant concessions.
The median home value of $718,991 is substantial, suggesting a relatively affluent residential area. However, the 17.2% renter share reveals a significant portion of the population prefers renting over owning. This high percentage of renters can be interpreted as a sign of long-term housing pressure, as it indicates a continuous demand for rental properties. In such a scenario, landlords and small-portfolio investors can expect steady occupancy rates and potential for rent increases, aligning with the upward trend suggested by the FMR.
In summary, the market in ZIP 27959 is characterized by a strong demand for rentals, with little indication of oversupply. The dynamics between the FMR and market rent, coupled with the low price-cut share and high median home value, suggest an environment conducive to investment in rental properties. The significant renter share points to enduring housing pressures that favor a robust rental market, making it an attractive location for landlords and investors looking to capitalize on these trends.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.