Section 8 Fair Market Rent (FMR) for ZIP 28108 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,740
1 Bedroom	$1,810
2 Bedrooms	$1,970
3 Bedrooms	$2,410
4 Bedrooms	$3,060
5 Bedrooms	$3,550
6 Bedrooms	$3,976
7 Bedrooms	$4,294
8 Bedrooms	$4,509

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

46.2%

Renter Occupied

The ZIP code 28108, located in Charlotte, North Carolina, is a bustling urban area with a mix of residential and commercial properties. It is well-connected with major transportation routes, making it attractive for both residents and businesses.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 28108 for fiscal year 2024 is set at $1740.
The median home value in the area is currently N/A, indicating a lack of recent data on home values which can be a risk factor for investment.
The renter share of the population in this ZIP code stands at 0.0%, suggesting that the majority of residents are homeowners rather than renters.
The median income figure for ZIP 28108 is also listed as N/A, which means there is insufficient data to determine the average income level of the residents.
The Days on Market (DOM) for rental listings is N/A, implying that there isn't enough data to assess how quickly rental properties are typically leased in this area.

Given the data points, investors should approach ZIP 28108 with caution. The high Fair Market Rent suggests that rental properties could command strong rents, but the low renter share indicates a preference among residents for homeownership over renting. This could mean less demand for rental units. The lack of recent data on median home values and median income poses a challenge in assessing the overall economic health and potential growth of the area. Landlords and small-portfolio investors should consider these factors and possibly look for additional sources of information to make informed decisions about investing in this 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.