Location: Washington County, NC | Metro: Washington 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 | $980 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,690 | $237,899 | 0.71% | D |
U.S. Census Bureau data (2024)
The ZIP code 27970 is situated in a predominantly rural area with a small-town feel, characterized by its modest population size of 2,439 residents. The demographic profile indicates a significant portion of the population—31.2%—are renters, suggesting a demand for affordable housing options. The median household income here stands at $37,578, which is notably lower than many metropolitan areas, yet the median home value is relatively low at $110,741, making homeownership accessible to a broader range of individuals.
From an investment perspective, the rental economics in ZIP 27970 are favorable for those interested in Section 8 properties. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,170, while the current market rent, according to the Census Bureau's American Community Survey (ACS), is $1,049. This gap between the FMR and the actual market rent provides a buffer for landlords, ensuring they can receive rents above the local average through Section 8 vouchers.
Given these economic conditions, ZIP 27970 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the steady income provided by the government-backed Section 8 program offers a reliable source of rental revenue without the need for extensive property management. On the other hand, hands-on investors have the opportunity to enhance property values and potentially command higher rents, leveraging the difference between the FMR and the current market rates. The combination of a supportive tenant base and manageable property costs makes this ZIP code an attractive option for real estate investors looking to capitalize on the Section 8 program.
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.