Location: Charlotte-Concord-Gastonia, NC | Metro: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,190 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
The ZIP code 28055 in the Charlotte-Concord-Gastonia metropolitan area presents unique challenges and opportunities for landlords and small-portfolio investors. While the specific demographic details such as resident count, percentage of renters, median income, and median home value are currently unavailable, the economic context provided by the Fair Market Rent (FMR) can offer insights into the potential for Section 8 investment.
The FMR for ZIP 28055 is set at $1200 for the fiscal year 2024. This figure represents the maximum amount that landlords can charge for rent through the Section 8 program. Given the lack of detailed market rent data, it's prudent to compare the FMR directly to any available local rental rates. However, without this information, the FMR stands as a critical benchmark for understanding the rental landscape.
The voucher economics in ZIP 28055 favor landlords who can operate efficiently within the $1200 FMR limit. This means optimizing property management costs and ensuring properties meet the necessary standards for Section 8 eligibility. The economic viability of Section 8 investments depends significantly on the landlord's ability to maintain properties while adhering to the FMR guidelines.
Based on the limited data available, the ZIP 28055 appears to be in a transitional phase. The absence of key demographic indicators suggests either recent changes or incomplete data. For investors, this could mean an evolving market with potential for growth but also requiring close attention to local economic trends and housing demand.
In summary, while ZIP 28055 lacks comprehensive demographic data, the $1200 FMR provides a clear guideline for rental pricing. Landlords should focus on operational efficiency and property quality to maximize returns within the constraints of the Section 8 program. The transitional nature of the ZIP code implies a dynamic environment that requires ongoing analysis and adaptation to succeed.
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.