Location: Lincoln County, NC | Metro: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The ZIP code 28034, located in Dallas, North Carolina, stands out within Gaston County due to its unique demographic and economic characteristics. With a total population of 18,979 residents, it has a rental rate of 25.4%, which is slightly below the national average. The median income here is $62,083, reflecting a modest but stable financial environment for both renters and homeowners. The median home value of $284,585 is also indicative of a middle-class neighborhood, where property ownership is a common aspiration.
For landlords and small-portfolio investors interested in Section 8 housing, the voucher economics present a significant opportunity. The Fair Market Rent (FMR) for ZIP 28034 in fiscal year 2024 is set at $1,010, whereas the Zillow Observed Rent Index (ZORI), which represents the market rent, is $1,710. This substantial gap means that landlords can potentially receive a higher subsidy for their units, making Section 8 participation financially viable. The difference between the FMR and market rent is $700 per month, which can be a considerable incentive for landlords to consider accepting vouchers.
The data signature for ZIP 28034 reads as stable. Its moderate median income and home values suggest a community that is unlikely to experience sudden shifts in its economic landscape. The relatively low rental rate indicates that many residents prefer owning homes over renting, which could mean a steady demand for affordable housing options. For investors looking to engage in Section 8 properties, this stability offers a predictable environment, allowing for better long-term planning and investment strategies.
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.