Section 8 Fair Market Rent (FMR) for ZIP 27973 - 2027

Investment Score for ZIP 27973

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

A skeptical investor looking into ZIP 27973 might have several concerns regarding the feasibility of investing in rental properties within this area. Let's address these concerns using the available data.

• Will FMR $1200 (zip FY 2024) cover the mortgage on a $399,650 home? The Fair Market Rent (FMR) for ZIP 27973 is set at $1200 for fiscal year 2024. To determine if this amount can cover the mortgage on a $399,650 home, we need to consider the typical interest rates and loan terms. Assuming a 30-year fixed-rate mortgage at an average interest rate of 5%, the monthly mortgage payment for a $399,650 home would be approximately $2167. This means that the FMR of $1200 does not fully cover the mortgage payment, leaving a shortfall of $967 per month. However, it's important to note that this analysis assumes no down payment and the highest possible interest rate. A down payment and/or a lower interest rate could significantly reduce the monthly mortgage obligation.
• Is there enough renter demand at 15.5%? The percentage of renters in ZIP 27973 stands at 15.5%. While this figure is relatively low compared to national averages, it still represents a significant portion of the population. It suggests that while there may not be overwhelming demand, there is still a consistent base of potential tenants. For small-portfolio investors, this level of demand could be sufficient, especially when considering the local context and competition. However, the data does not provide insights into the growth rate of renter demand or the number of rental units currently available, which would be crucial for a comprehensive assessment.
• Will vouchers keep pace with N/A market rents? Unfortunately, the data does not provide information on the specifics of voucher programs or their ability to keep up with market rents in ZIP 27973. Without this information, it's challenging to give a definitive answer. Vouchers can vary widely in value and availability depending on the local housing authority and federal funding. Investors should research the local Section 8 program and its historical performance to gauge whether vouchers will adequately support rental income in line with market rates.

The data indicates that while there are challenges, such as the FMR not covering the full mortgage payment on a $399,650 home, there is still a viable market for rental properties in ZIP 27973. The low percentage of renters does not necessarily mean a lack of demand but requires further investigation into the local rental market dynamics and 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.