Location: Cleveland County, NC | Metro: Cleveland County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 28169 in the Cleveland County, NC metro area reveals key insights for landlords and small-portfolio investors.
The rent math does not work favorably due to the lack of available market rent data. The Fair Market Rent (FMR) for the area, set at $930 for fiscal year 2026, is a benchmark but without current market rent figures, it's challenging to assess if properties can be rented out at a profit. Landlords should seek the most recent local rental rates to ensure that their income meets or exceeds this FMR threshold.
Acquisition affordability is unclear without specific data on the median home value, days on market (DOM), and the percentage of homes experiencing price cuts. These metrics are crucial for determining whether buying property in ZIP 28169 aligns with investment goals. Investors must research these factors to gauge the financial feasibility of acquiring new properties.
Tenant demand is present but limited. With a population of 108, the area has a 24.4% renter share, indicating that there are 26 potential renters. This small number suggests that competition among landlords could be high, and the pool of tenants is relatively shallow. Landlords need to ensure they offer competitive rents and attractive living conditions to secure tenants in such a niche market.
Verdict: ZIP 28169 presents a challenging environment for real estate investments due to its small size and limited population. While there is a tenant base, it is insufficient to support a large number of rental properties. Landlords should carefully consider the FMR and seek current market data to ensure profitability. Given the lack of detailed financial metrics, caution is advised when contemplating acquisitions in this area. The focus should be on maintaining a low-cost operation and offering value to the small pool of renters.
Data Sources: FMR data from HUD (2027). 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.