Location: Rutherford County, NC | Metro: Rutherford County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The ZIP code 28024 presents several challenges for landlords considering Section 8 investments. First, tenant turnover can be a significant issue due to the discrepancy between market rents and the Fair Market Rent (FMR) of $930 for FY 2026, which is set for the metro area. This difference may discourage tenants from staying long-term, leading to higher churn rates and associated costs.
Vacancy exposure is another concern. With an average of N/A days on the market (DOM), it's unclear how quickly properties can be filled, especially if the market rent exceeds the FMR. This uncertainty can result in periods of non-rent collection, impacting cash flow negatively.
Deferred maintenance is also a risk factor. The lack of data on typical home values and median incomes suggests that residents might struggle to afford necessary repairs, potentially leaving landlords with the burden of maintaining properties in good condition. Without these figures, it's difficult to assess the financial capacity of tenants to contribute to such costs.
However, these risks must be weighed against the fact that 28024 has a 0.0% renter share, indicating a high concentration of renters. High renter density often translates into greater demand for housing vouchers, which can stabilize occupancy rates and provide a steady stream of rental income. Landlords should be prepared for the administrative demands of managing Section 8 properties but can expect a stable tenant pool.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.