Location: Rowan County, NC | Metro: Iredell County, NC HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,100 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,330 |
| 5 Bedrooms | $2,703 |
| 6 Bedrooms | $3,027 |
| 7 Bedrooms | $3,269 |
| 8 Bedrooms | $3,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,780 | $433,872 | 0.41% | F |
U.S. Census Bureau data (2024)
The market in ZIP code 28125 presents a dynamic scenario where the rental market appears to be robust. The Fair Market Rent (FMR) for the area is set at $1240 for fiscal year 2024, indicating a level of affordability that aligns well with the local economy. This figure is slightly higher than the reported market rent of $1,149, based on Census American Community Survey data, which suggests that landlords can maintain rents close to the FMR without significant pushback from tenants.
The median home value in the area stands at $454,761. While this is a substantial figure, it's important to note that the percentage of price-cut share and days on market (DOM) are not available, which means we cannot definitively say whether supply is outpacing demand or vice versa. However, the fact that the FMR is higher than the market rent might imply a slight edge towards demand, as tenants are willing to pay closer to the FMR.
A noteworthy statistic is the 9.2% renter share, which is relatively low compared to many other areas. This could indicate that homeownership is more prevalent in 28125, potentially due to the availability of affordable housing options or a preference among residents for owning property. Despite the low renter share, the rental market remains active, suggesting a steady but not overwhelming need for rental properties. Over the long term, this balance between renters and homeowners may mean less immediate pressure on rental prices, allowing landlords to maintain stable income streams without frequent adjustments.
In summary, ZIP 28125 offers a stable rental environment with a slight indication of demand supporting current rents. Landlords and small-portfolio investors can expect a market that rewards quality maintenance and competitive pricing, ensuring steady returns without the volatility seen in some high-renter-share areas.
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.