Location: Lincoln County, NC | Metro: Lincoln County, NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
To profile ZIP code 28093 in relation to Section 8 tenants, we must first acknowledge that specific demographic data such as population size and percentage of renters is currently unavailable. However, the analysis can still be conducted based on the limited information provided.
The median household income for this area is also unspecified, which makes it challenging to draw direct comparisons to typical market rents. Nevertheless, the Fair Market Rent (FMR) for the area, set at $1090 for FY 2024, provides a benchmark against which landlords can measure their rental rates.
Without precise data on the percentage of renters, it's difficult to definitively state whether this is a renter-heavy ZIP with high voucher demand or an area dominated by homeowners. However, the presence of a Section 8 voucher program indicates there is a segment of the population relying on government assistance for housing, suggesting a mix of both owner-occupied and rental properties.
When considering the impact of income levels on market rent, the lack of specific figures complicates the assessment. Typically, if the median income were known, it would be compared to the average market rent to determine what portion of local incomes is consumed by housing costs. In the absence of these details, landlords should assume that a significant portion of their potential tenant pool will have incomes below the median, making the FMR a critical guideline for setting affordable rent prices.
The FMR of $1090 serves as an upper limit for Section 8 voucher holders in this area, meaning landlords who wish to attract these tenants must ensure their rental units do not exceed this amount. This constraint is crucial for landlords looking to tap into the Section 8 market, as it directly influences the affordability of housing for low-income families.
In summary, while the exact composition of the tenant pool remains unclear due to missing demographic data, landlords in ZIP 28093 should anticipate a significant number of low-income individuals seeking housing through the Section 8 voucher program. Rents should be priced competitively and within the FMR guidelines to cater to this tenant base effectively. The focus should be on maintaining properties that meet the housing quality standards required for Section 8 tenancy, ensuring they are attractive to voucher holders without exceeding the allowable rent thresholds.
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.