Location: Stanly County, NC | Metro: Stanly 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 | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $137,580 | 0.78% | D |
| 3BR | $1,470 | $191,475 | 0.77% | D |
U.S. Census Bureau data (2024)
The ZIP code 28009 in Albemarle, North Carolina, stands out within Stanly County due to its relatively small population of 1,456 residents, with 28.4% of them renting their homes. The median income in this area is $53,145, while the median home value is notably higher at $169,743. This combination suggests a modest but stable economic environment where homeownership is more prevalent than rental.
Moving into the specifics of Section 8 housing, the ZIP code 28009 presents an interesting dynamic. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $940, which is slightly below the current market rent of $975 as reported by the Census Bureau's American Community Survey (ACS). This means that landlords accepting Section 8 vouchers in this area might face a minor shortfall in covering market rents, though it remains a viable option for tenants seeking affordable housing.
The data signature for ZIP 28009 reads as stable rather than transitional. The slight discrepancy between the FMR and market rent does not indicate significant volatility, and the high median home value alongside a moderate median income suggests a strong preference for homeownership among the local population. This stability can be reassuring for landlords and small-portfolio investors considering the long-term viability of their investments in this area.
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.