Section 8 Fair Market Rent (FMR) for ZIP 28074 - 2027

Location: Rutherford County, NC | Metro: Rutherford County, NC

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$900
1 Bedroom	$910
2 Bedrooms	$1,060
3 Bedrooms	$1,410
4 Bedrooms	$1,440
5 Bedrooms	$1,670
6 Bedrooms	$1,870
7 Bedrooms	$2,020
8 Bedrooms	$2,121

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

100.0%

Renter Occupied

When considering whether to purchase a property in ZIP code 28074 for Section 8 purposes, landlords must evaluate several key factors based on the most recent data available.

Step 1: The first question is whether the Fair Market Rent (FMR) of $980 for the metropolitan area in fiscal year 2026 can cover the debt service on a property. Given that the median home value in this ZIP code is not specified (N/A), landlords must assess their own properties' debt service requirements. If the debt service is less than $980, then the answer is yes; otherwise, it's a no.

Step 2: Next, compare the market rent to the FMR. With the market rent also unspecified (N/A), landlords need to research local rental listings. If the market rent is higher than $980, landlords can expect a premium over the FMR, which is favorable. If the market rent is around $980, the property will be priced at the FMR level, making it competitive but not offering a premium. If the market rent is below $980, the property may struggle to attract tenants willing to pay the FMR rate.

Step 3: Evaluate the demand for rentals. In ZIP 28074, 0.0% of renters are currently participating in the Section 8 program, and the Days on Market (DOM) for properties is not specified (N/A). This indicates a very low participation rate in the Section 8 program, suggesting limited demand. However, the DOM figure would provide insight into how quickly properties are being rented. If the DOM is low, it suggests strong overall demand, even if Section 8 participation is minimal. If the DOM is high, it implies a weak rental market, which could be problematic for a Section 8-focused investment.

Based on these criteria, the decision tree branches as follows:

If your property's debt service is less than $980 and market rent is above FMR, proceed with confidence. The property will likely cover costs and offer a premium.
If market rent is around $980 and DOM is low, the investment is viable despite the low Section 8 participation rate. The property will meet FMR and be rented quickly.
If market rent is below $980 or DOM is high, the answer is no. The property won't generate sufficient income or demand to justify a Section 8 focus.
In cases where market rent is around $980 but DOM is high, it depends. Consider other factors such as location, property condition, and competition before deciding.

Note: Without specific data on median home values and average market rents, landlords must conduct thorough local market research to accurately apply this decision tree.

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.