Location: Rutherford County, NC | Metro: Rutherford County, NC
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 | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $136,387 | 0.74% | D |
| 3BR | $1,350 | $208,584 | 0.65% | D |
| 4BR | $1,370 | $303,203 | 0.45% | F |
| 5BR | $1,589 | $342,038 | 0.46% | F |
U.S. Census Bureau data (2024)
The ZIP code 28043, encompassing Forest City, North Carolina, presents a dynamic housing market where the relationship between supply and demand is finely balanced. The Fair Market Rent (FMR) for the area is set at $930 for the fiscal year 2026, while the actual market rent, according to Census ACS data, stands at $783. This suggests that the market rent is currently below the FMR, indicating potential upward pressure on rents as the market adjusts to meet federal guidelines.
A key indicator of market health is the price-cut share, which for ZIP 28043 is 0.2%. This low figure implies that few listings are being discounted, suggesting that properties are generally selling close to their asking price. This could be an indication of a market where demand meets supply without significant excess inventory.
The median home value in ZIP 28043 is $192,982. While this figure alone does not provide a complete picture of the market's trajectory, it can be inferred that homes are relatively affordable compared to larger metropolitan areas. This affordability may attract first-time buyers and investors looking for stable returns.
The 35.6% renter share highlights a significant portion of the population that prefers renting over owning. In the context of long-term housing pressure, this suggests that there will likely be sustained demand for rental properties. Landlords and small-portfolio investors should take note of this trend, as it points to a steady market for rentals. However, it also indicates that a considerable number of residents might be sensitive to rent increases, necessitating careful management of rental pricing to maintain occupancy rates.
In summary, ZIP 28043 is a market characterized by moderate upward pressure on rents, low discount rates on home sales, and a substantial renter population. These factors combine to create a stable yet evolving environment for real estate investment. For landlords and small-portfolio investors, the focus should be on maintaining competitive rental rates and identifying opportunities in the affordable homeownership segment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.