Section 8 Fair Market Rent (FMR) for ZIP 27974 - 2027
Location: Camden County, NC | Metro: Camden County, NC HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,230 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,950 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$80,395
To determine if you should buy in ZIP code 27974 for Section 8 investments, follow this decision tree:
- Does FMR $860 (zip FY 2024) clear debt service on a $331,880 property?
- Yes: The Fair Market Rent (FMR) of $860 is sufficient to cover the monthly debt service on a property valued at $331,880. This indicates that the rental income will meet the financial obligations associated with owning the property.
- No: If the FMR does not clear the debt service, purchasing a property in this ZIP code for Section 8 purposes would not be financially viable. The monthly rent received would not be enough to cover the mortgage payments and other expenses.
- Is market rent N/A (N/A) above, at, or below FMR?
- Above: If the market rent exceeds the FMR, landlords can potentially charge higher rents to non-Section 8 tenants, increasing profitability. However, since the market rent data is not available, this cannot be determined with certainty.
- At: If market rent equals the FMR, landlords will receive the same amount whether renting to a Section 8 tenant or a non-Section 8 tenant. This scenario offers stability but no premium over the FMR.
- Below: If market rent is below the FMR, Section 8 tenants provide a more reliable source of income compared to market-rate tenants. This makes the ZIP code attractive for Section 8 investments.
- Are 5.6% renters + N/A-day DOM enough demand?
- Yes: If the percentage of renters in the area is 5.6%, and the days on market (DOM) for properties is low, indicating quick turnover, there is likely enough demand to support Section 8 investments. Low DOM suggests strong interest from potential tenants.
- No: With only 5.6% of residents being renters, the demand for rental properties might be insufficient. Additionally, without knowing the exact number of days on market, it's difficult to assess how quickly properties are rented out.
- It Depends: The 5.6% figure alone is not sufficient to make a definitive decision. It requires context such as the total population and the number of units available. If the DOM is high, it may indicate weak demand even among a small percentage of renters.
In conclusion, if the FMR clears the debt service and the market rent is either equal to or below the FMR, the ZIP code is a viable option for Section 8 investments. However, the limited rental market presence and unknown DOM make it challenging to assert definitively that there is enough demand. Additional research into local housing trends and tenant preferences is recommended before making an investment decision.
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.