Location: Charlotte-Concord-Gastonia, NC | Metro: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,670 |
| 1 Bedroom | $1,740 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,310 |
| 4 Bedrooms | $2,940 |
| 5 Bedrooms | $3,410 |
| 6 Bedrooms | $3,819 |
| 7 Bedrooms | $4,125 |
| 8 Bedrooms | $4,331 |
The Fair Market Rent (FMR) for ZIP 28130 in fiscal year 2024 is set at $1650 for a unit, indicating a specific rental price point for Section 8 properties. This figure suggests a defined yield for landlords participating in the program. However, without market rent and home value data, we cannot fully assess the potential for higher yields through market-rate rentals or property appreciation.
Regarding stability, the lack of specific data on renter percentages, days on market (DOM), and income levels means we cannot provide a precise analysis. Nonetheless, the presence of Section 8 tenants can offer some level of stability due to the government-backed rental assistance. Landlords should note that the turnover rate among Section 8 tenants might be lower compared to market-rate rentals, which could contribute to long-term cash flow predictability.
To classify ZIP 28130, it leans towards being a steady-cashflow zone, given the reliance on Section 8 tenants and the fixed rental amount. This classification is driven by the stable income stream provided by the FMR figure, although the absence of other key metrics prevents a definitive conclusion on its stability or potential for higher yields.
Landlords and small-portfolio investors considering ZIP 28130 should focus on the guaranteed rental income from Section 8 tenants but also be aware of the limitations in achieving higher yields through market-rate adjustments. The stability offered by the program is a significant factor, though additional research into local market conditions would be beneficial for a comprehensive investment strategy.
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.