Location: Stanly County, NC | Metro: Stanly County, NC
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 | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $245,711 | 0.42% | F |
| 3BR | $1,430 | $343,866 | 0.42% | F |
| 4BR | $1,490 | $409,779 | 0.36% | F |
U.S. Census Bureau data (2024)
The ZIP code 28129, located in Oakboro, NC within Stanly County, stands out due to its unique demographic and economic characteristics. With a total population of 5,852, it has a relatively low rental rate at 14.2%, indicating that the majority of residents own their homes. The median income of $69,906 is slightly above the national average, suggesting a middle-class community. The median home value of $336,204 reflects a stable housing market where property values have remained consistent.
In terms of Section 8 vouchers, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $930. This figure is just below the market rent of $944, based on Census American Community Survey (ACS) data. Landlords accepting Section 8 vouchers can expect a slight shortfall between the voucher amount and the market rent, but this difference is minimal and should not significantly impact profitability.
The data signature for ZIP 28129 indicates a stable environment. The low rental rate and modest income levels suggest that the community is primarily composed of homeowners who are likely to stay put, contributing to long-term stability. The close alignment between the FMR and market rent further supports this stability, ensuring that voucher holders can find suitable housing without placing an undue burden on landlords. Given these factors, Oakboro appears to be a reliable location for landlords and small-portfolio investors looking for steady returns with minimal risk.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.