Location: Charlotte-Concord-Gastonia, NC | Metro: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area
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 | $1,580 |
| 1 Bedroom | $1,640 |
| 2 Bedrooms | $1,790 |
| 3 Bedrooms | $2,190 |
| 4 Bedrooms | $2,780 |
| 5 Bedrooms | $3,225 |
| 6 Bedrooms | $3,612 |
| 7 Bedrooms | $3,901 |
| 8 Bedrooms | $4,096 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,640 | $187,711 | 0.87% | C |
| 2BR | $1,790 | $247,110 | 0.72% | D |
| 3BR | $2,190 | $351,300 | 0.62% | D |
| 4BR | $2,780 | $498,189 | 0.56% | F |
| 5BR | $3,225 | $621,317 | 0.52% | F |
U.S. Census Bureau data (2024)
Concord’s 28027 ZIP code represents a fast-growing suburban landscape characterized by sprawling retail centers and master-planned communities. The area is heavily influenced by the nearby Charlotte Motor Speedway, which serves as a major employer and tourism driver for the region, contributing to a local economy that balances blue-collar logistics with white-collar professional commuters working in Uptown Charlotte. This neighborhood is largely car-dependent, offering a quiet residential atmosphere with easy access to I-85, making it a practical choice for families seeking space outside the urban core.
From a financial perspective, the 2024 HUD SAFMR for a 2-bedroom unit in 28027 is set at $1,400, lagging behind the current Zillow market rent of $1,671. This creates a monthly negative gap of $271, meaning landlords accepting vouchers at the HUD standard would earn less than the prevailing market rate. Despite this, entry costs are manageable; the median 2BR sale price sits at $245,464 against a broader median home value of $414,961. Investors should note that properties here move slowly, with a median days on market of 88 days, suggesting less competition but potentially longer holding periods.
The tenant pool appears relatively healthy, supported by a median household income of $92,219 and a renter share of 36.0%. While the income level is well above typical voucher thresholds, it indicates a stable local economy where employment is steady. Families are often drawn to the area for access to highly-rated schools within the Cabarrus County School District, and the abundance of parks and shopping along Concord Mills Boulevard. These amenities generally support consistent housing demand, even if the high homeownership propensity limits the sheer density of renters compared to urban Charlotte.
The Section 8 verdict for 28027 leans toward stability rather than aggressive cash flow. Because the HUD payment standard of $1,400 falls short of market rents by $271, this area is not ideal for investors maximizing immediate monthly yield on 2-bedroom units. However, the strong median income and institutional presence of the Speedway offer economic resilience. The play here is long-term appreciation and tenant reliability rather than premium voucher rates, making it suitable for buy-and-hold portfolios prioritizing equity growth over immediate rental arbitrage.
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.