Location: Cleveland County, NC | Metro: Cleveland County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
The ZIP code 28038 in Cleveland County, NC, presents a unique scenario for landlords and small-portfolio investors due to the lack of specific data points regarding its resident population, rental percentages, median income, and median home values. This scarcity of detailed local economic indicators suggests a less-defined market, which can be both an opportunity and a challenge.
Moving to the specifics of voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930. Without a direct comparison to the local market rent for ZIP 28038, it's essential for landlords to consider regional trends and the broader economic context of Cleveland County when setting their rents. The FMR serves as a benchmark for rental rates that are reasonable and affordable for families receiving housing assistance through the Section 8 program.
In terms of stability, the data signature for ZIP 28038 reads as transitional. The absence of concrete figures implies either a recent change in the area's composition or an evolving market that hasn't yet established clear patterns. Landlords should be prepared for fluctuations in demand and tenant behavior as the ZIP code continues to develop. Monitoring broader county-level metrics and staying informed about local developments will be crucial for making informed decisions.
Given the transitional nature of the ZIP code, landlords should focus on building relationships with local agencies and understanding the broader housing landscape in Cleveland County. This approach will help in navigating any changes and ensuring a steady stream of tenants who can benefit from the Section 8 voucher program.
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.