Location: Charlotte-Concord-Gastonia, NC | Metro: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,670 |
| 1 Bedroom | $1,740 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,310 |
| 4 Bedrooms | $2,940 |
| 5 Bedrooms | $3,410 |
| 6 Bedrooms | $3,819 |
| 7 Bedrooms | $4,125 |
| 8 Bedrooms | $4,331 |
The HUD Fair Market Rent (FMR) for ZIP code 28035 in Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area for fiscal year 2024 is set at $1650 for a standard unit. However, the specific market rent figures for this area are currently unavailable, which makes direct comparison challenging. Despite this, we can infer that voucher tenants in this ZIP code would likely cashflow at the FMR rate, assuming the market rent is higher than the FMR. The median home value for the area is also not available, but it would be crucial for calculating the rent-to-price ratio, which helps determine the attractiveness of renting versus buying.
Without the precise median days on market (DOM) and the percentage of homes that had their prices cut before selling, it's difficult to provide a detailed analysis of the rent-versus-buy dynamics. These metrics would give insight into how quickly properties sell and the level of competition in the housing market, both of which impact investment decisions.
Given the limited data, the strongest angle for investors in this market appears to be cashflow. Voucher tenants provide a stable, government-backed income stream, which is particularly valuable when market rents are higher than the FMR. This ensures that landlords and small-portfolio investors can rely on consistent rental income without the risks associated with market fluctuations.
Data Sources: FMR data from HUD (2027).
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.