Location: Rutherford County, NC | Metro: Rutherford 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 | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $120,186 | 0.84% | C |
| 3BR | $1,350 | $179,755 | 0.75% | D |
| 4BR | $1,370 | $233,643 | 0.59% | F |
U.S. Census Bureau data (2024)
53.1% of residents in ZIP code 28160, Spindale, NC, are renters, indicating a significant demand for rental properties in the area. The $930 Fair Market Rent (FMR) for metro areas in fiscal year 2026 shows what landlords can expect as a benchmark for rental pricing under federal programs. However, the market rent as per Census ACS stands at $735, which suggests that landlords might have some flexibility in pricing above the market average to align with federal guidelines. The median home value of $152,872 provides insight into the overall housing market value, potentially affecting property taxes and insurance costs. Given the median income of $40,868, it's important to note that this figure could influence the affordability of housing and the potential for rental income stability. While the day DOM (days on market) is listed as N/A, the low price-cut share of 0.2% indicates that homes in this area are generally selling at or near their asking price, suggesting a robust local real estate market. This combination of high renter share, reasonable market rents, and stable home values makes ZIP 28160 an attractive option for Section 8 investments. Landlords can leverage the $930 FMR to ensure steady income while providing affordable housing options to tenants.
Furthermore, the gap between the FMR and the market rent presents an opportunity for landlords to slightly increase their rental rates without significantly impacting affordability. The relatively low median income also underscores the importance of Section 8 as a viable option for many residents, ensuring a consistent tenant pool. With the price-cut share being so low, it's evident that the market supports properties priced close to their true value, reducing the risk of overvaluation in investment decisions. In conclusion, the data points to a favorable environment for Section 8 investments in Spindale, NC, with strong rental demand and a supportive local real estate market.
Section 8 Verdict: Favorable
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.