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 | $1,140 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $239,366 | 0.54% | F |
| 3BR | $1,570 | $337,571 | 0.47% | F |
| 4BR | $2,000 | $611,960 | 0.33% | F |
| 5BR | $2,320 | $912,871 | 0.25% | F |
U.S. Census Bureau data (2024)
ZIP 28032, located in Cramerton, North Carolina, within the Charlotte-Concord-Gastonia HUD Metro FMR Area, presents an opportunity for landlords and small-portfolio investors to anchor their cash flow. The Family Monthly Rent (FMR) for FY 2024 is set at $1260, which is significantly below the market rent of $1,575. This spread allows landlords to secure a steady stream of rental income through the Section 8 program while still maintaining a competitive position in the local rental market.
The median home value in ZIP 28032 is $304,566, indicating a stable housing market that supports consistent rental demand. The low price-cut share of 0.2%, coupled with the fact that days on market (DOM) is not applicable (N/A), suggests that properties in this area sell quickly when listed, minimizing the risk of prolonged vacancies and ensuring timely returns on investment.
Furthermore, with a renter share of 26.5% and a median income of $60,924, the area has a substantial number of potential tenants who qualify for the Section 8 program. This demographic ensures a reliable pool of applicants, reducing the likelihood of empty units and providing a predictable income source.
To summarize, ZIP 28032 serves best as a cash-flow anchor within a Section 8 portfolio strategy. Landlords can leverage the $315 spread between the FMR and market rent to ensure a steady income while minimizing vacancy risks. The quick sale times and stable housing values further support this role, making it an ideal choice for those looking to stabilize their financial performance.
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.