Section 8 Fair Market Rent (FMR) for ZIP 28081 - 2027

Location: Rowan County, NC | Metro: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area

Investment Score for ZIP 28081

Monthly Rent (2BR)

$1,350

Median Price (2BR)

$207,825

1% Rule

0.65%

Annual Yield

7.8%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,130
1 Bedroom	$1,170
2 Bedrooms	$1,350
3 Bedrooms	$1,670
4 Bedrooms	$2,160
5 Bedrooms	$2,506
6 Bedrooms	$2,807
7 Bedrooms	$3,032
8 Bedrooms	$3,184

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,170	$167,146	0.7%	D
2BR	$1,350	$207,825	0.65%	D
3BR	$1,670	$309,971	0.54%	F
4BR	$2,160	$435,437	0.5%	F
5BR	$2,506	$560,035	0.45%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

29,075

Median Household Income

$71,665

Housing Units

12,763

Renter Percentage

26.5%

Occupancy Rate

90.7%

Renter Occupied

3,072

Kannapolis, NC, located in the heart of Cabarrus County, is a growing community known for its blend of rural charm and urban amenities. The city has seen significant development in recent years, driven by investments in manufacturing and healthcare sectors, which has led to an increase in both population and rental demand.

The Fair Market Rent (FMR) for ZIP code 28081 is set at $1,140 for the fiscal year 2024, providing a benchmark for rental pricing.
The actual market rent, as indicated by Zillow's ZORI index, stands at $1,608, reflecting the higher rents that tenants are willing to pay in this area.
The median home value in Kannapolis is $295,355, making it a desirable location for homeownership but also indicating a strong potential for rental investment.
Renters make up 26.5% of the housing market in ZIP 28081, suggesting a healthy demand for rental properties.
The median income for residents in this ZIP code is $71,665, which supports the ability of renters to afford higher monthly payments.

The data points highlight a robust rental market in Kannapolis, with actual rents significantly exceeding the FMR. This indicates strong demand and potential for rental income growth. The median home value and median income figures suggest that while there is a solid base of homeowners, there is also a substantial number of renters who can support higher rental rates. For landlords and small-portfolio investors, Kannapolis presents an opportunity to capitalize on rising rents and a growing tenant base, positioning themselves for long-term success in a vibrant and developing community.

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.