Section 8 Fair Market Rent (FMR) for ZIP 28012 - 2027

Location: Charlotte-Concord-Gastonia, NC | Metro: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,410
1 Bedroom	$1,470
2 Bedrooms	$1,600
3 Bedrooms	$1,950
4 Bedrooms	$2,490
5 Bedrooms	$2,888
6 Bedrooms	$3,235
7 Bedrooms	$3,494
8 Bedrooms	$3,669

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

26,556

Median Household Income

$83,391

Housing Units

11,810

Renter Percentage

30.4%

Occupancy Rate

94.3%

Renter Occupied

3,382

Housing Authorities Serving ZIP 28012

Gastonia Housing Authority (Gastonia, NC) - 1,749 Section 8 vouchers
Belmont Housing Authority (Belmont, NC)

The ZIP code 28012, encompassing Belmont, NC, offers a stable real estate market characterized by a mix of homeownership and rental opportunities. Nestled in the heart of North Carolina, Belmont provides a blend of suburban living with access to urban amenities, making it an attractive location for both residents and investors.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 28012 for fiscal year 2024 is set at $1,360.
The market rent, as measured by Zillow's ZORI index, stands at $1,872 for a typical rental property in Belmont, indicating a premium over the FMR.
The median home value in the area is $418,756, reflecting a moderate cost of living that supports both owner-occupied and rental markets.
Renters make up 30.4% of the population, suggesting a significant demand for rental properties.
The median household income in ZIP 28012 is $83,391, which is above the national average, providing tenants with a strong financial foundation to support rental payments.

Investors looking to enter the Belmont real estate market can expect a robust rental sector, driven by a combination of reasonable rents and a solid tenant base. The discrepancy between the FMR and the market rent indicates potential for higher returns on investment in rental properties. Additionally, the median home value suggests that Belmont is neither too expensive nor too cheap, balancing the risks and rewards of property investment. With a healthy percentage of renters and good incomes, Belmont presents a favorable environment for landlords and small-portfolio investors seeking steady cash flows and long-term appreciation.

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.