Location: Charlotte-Concord-Gastonia, NC | Metro: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,360 |
| 1 Bedroom | $2,460 |
| 2 Bedrooms | $2,680 |
| 3 Bedrooms | $3,270 |
| 4 Bedrooms | $4,160 |
| 5 Bedrooms | $4,826 |
| 6 Bedrooms | $5,405 |
| 7 Bedrooms | $5,837 |
| 8 Bedrooms | $6,129 |
U.S. Census Bureau data (2024)
The ZIP code 28075, located in Harrisburg, North Carolina, stands out within Cabarrus County due to its unique demographic and economic characteristics. With a population of 21,517 residents, it has a relatively low rental rate of only 7.2%, indicating that most homeowners prefer to own rather than rent their properties. The median household income in this area is robust at $144,288, reflecting a higher-than-average earning capacity among its residents. Additionally, the median home value is significantly high at $502,629, suggesting a strong housing market and property appreciation.
In terms of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 28075 in fiscal year 2024 is set at $2,330, which is notably lower than the market rent as measured by ZORI (Zillow Observed Rent Index), at $2,489. This discrepancy means that landlords accepting Section 8 vouchers in this ZIP code will see a slight shortfall compared to market rates, but the difference is minimal, making it still a viable option for those willing to participate in the program.
The data signature for ZIP 28075 reads as stable, with strong economic indicators and a high median home value suggesting little likelihood of significant changes in the near future. The relatively low rental rate also points towards a community that values homeownership, which further supports the stability of the local real estate market.
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.