Location: Rutherford County, NC | Metro: Rutherford 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 | $950 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $205,446 | 0.55% | F |
| 3BR | $1,500 | $255,627 | 0.59% | F |
| 4BR | $1,520 | $362,315 | 0.42% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 28018, Bostic, North Carolina, for fiscal year 2024 is set at $960. This figure represents the maximum amount the U.S. Department of Housing and Urban Development (HUD) will pay to cover a tenant's rent under the Section 8 housing voucher program. It does not mean you can charge $960 for rent; rather, it's the benchmark HUD uses to determine how much they'll reimburse you.
In contrast, the average market rent in Bostic, as reported by the Census Bureau's American Community Survey (ACS), stands at $870. This suggests that while the FMR is slightly higher, the actual rents paid by tenants without vouchers might be lower. The difference between the FMR and the average market rent can provide a buffer for landlords, ensuring that they receive a competitive rate even when dealing with subsidized housing.
Bostic has a 16.1% share of renters among its total population. This means that nearly one in six residents are looking for rental housing, indicating a steady demand for apartments and houses. However, the number of those who qualify for Section 8 assistance might be smaller, so understanding the local tenant pool is crucial.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in Bostic is approximately $226,775. This gives you an idea of the typical acquisition cost for a house or apartment building in the area. Before making a purchase, ensure that the property meets all the necessary requirements for Section 8 participation, such as passing a Housing Quality Standards (HQS) inspection.
To summarize, the FMR of $960 offers a predictable income source, but remember it's not your rent price. With an average market rent of $870, you can expect to compete in a reasonable range. Given the 16.1% renter share, there is demand for rental properties, though you should focus on those likely to benefit from Section 8 assistance. At an acquisition cost of about $226,775, investing in Bostic can be financially viable if you manage expectations and due diligence carefully. One key step to verify before proceeding is confirming the property’s compliance with HQS standards, which are essential for securing a Section 8 contract.
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.