Section 8 Fair Market Rent (FMR) for ZIP 28111 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 28111 in the Charlotte-Concord-Gastonia area of North Carolina presents unique challenges and opportunities for landlords and small-portfolio investors due to limited available data. The specifics on the number of residents, percentage renting, median income, and median home value are currently not accessible, making it difficult to provide a comprehensive overview of the demographic and economic landscape.

Despite these data gaps, the Federal Market Rent (FMR) for ZIP 28111 in fiscal year 2024 is set at $1500. This figure represents the maximum amount that landlords can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that without comparable market rent data, it's challenging to assess how the FMR aligns with local rental rates. However, the FMR serves as a benchmark for landlords participating in the Section 8 program, ensuring they receive a fixed rental payment from the government regardless of the tenant's contribution.

The data signature for ZIP 28111 reads as transitional. This assessment is based on the lack of detailed historical data which would typically indicate stability. In areas with robust data availability, trends can be analyzed to determine if the market is stable or changing. Here, the absence of such data points towards a transitional phase where further observation and collection of information will be necessary to understand long-term patterns and make informed investment decisions.

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.