Location: Cleveland County, NC | Metro: Lincoln 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 | $890 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $223,648 | 0.46% | F |
| 3BR | $1,360 | $315,961 | 0.43% | F |
| 4BR | $1,650 | $448,083 | 0.37% | F |
U.S. Census Bureau data (2024)
17.1% of residents in ZIP 28168, Vale, NC, are renters, indicating a modest demand for rental properties. The $1010 Fair Market Rent (FMR) set for zip code FY 2024 provides a benchmark for rental pricing, ensuring that units are affordable to those who qualify for the Section 8 program. In contrast, the average market rent stands at $821 according to Census ACS data, suggesting that properties priced at the FMR level could be competitive yet still attractive to Section 8 participants. Landlords should also consider the $294,512 median home value when assessing property values and potential investment opportunities in the area. The median income of $61,220 reflects the financial capacity of local residents, which is crucial for determining the eligibility threshold for tenants under the Section 8 program. Despite the lack of available days on market (DOM) data, the 0.3% price-cut share indicates a stable market where few landlords need to reduce their asking prices, which bodes well for maintaining steady rental income. Given these figures, investing in rental properties in Vale, NC, that adhere to the $1010 FMR can be a sound strategy for landlords and small-portfolio investors seeking to serve the local housing needs while ensuring financial viability.
The Section 8 program in Vale, NC, offers a reliable source of rental income, with the FMR closely aligning with the average market rent, making it an attractive option for landlords. The modest renter share and stable market conditions suggest that there is both demand and opportunity for properties that meet the Section 8 requirements. For those considering the Section 8 route, the numbers in ZIP 28168 support a positive outlook, provided that the investment aligns with the $1010 FMR and the overall economic context of the area.
Section 8 Verdict: ZIP 28168 presents a viable market for Section 8 rentals, with properties priced at $1010 FMR likely to attract eligible tenants and maintain competitiveness against the average market rent of $821.
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.