Location: Charlotte-Concord-Gastonia, NC | Metro: Charlotte-Concord-Gastonia, NC-SC 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 | $1,170 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $2,070 |
| 5 Bedrooms | $2,401 |
| 6 Bedrooms | $2,689 |
| 7 Bedrooms | $2,904 |
| 8 Bedrooms | $3,049 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,330 | $242,125 | 0.55% | F |
| 3BR | $1,620 | $319,877 | 0.51% | F |
| 4BR | $2,070 | $393,198 | 0.53% | F |
U.S. Census Bureau data (2024)
The market in ZIP 28174, Wingate, NC, reflects a dynamic environment where rental prices are closely aligned with federal guidelines. The Fair Market Rent (FMR) for the area stands at $1220 for fiscal year 2024, indicating a robust rental market that meets the needs of both landlords and tenants. Census American Community Survey (ACS) data shows the market rent to be $1,149, which suggests that the rental market is competitive but stable, as it is just below the FMR.
The median home value in the area is $316,555. This figure provides insight into the overall cost of homeownership in Wingate, which can influence the decision-making process of potential buyers and renters alike. A high median home value might push more individuals towards renting rather than buying, especially if they are unable to secure financing at favorable rates.
With a renter share of 27.0%, Wingate has a notable portion of its population choosing to rent their homes. This percentage implies that there is a significant demand for rental properties, driven possibly by the relatively high cost of homeownership and the desire for flexibility among residents. As a result, landlords can expect steady interest in their properties, particularly those priced close to the market rent.
The lack of specific data on price-cut share and days on market (DOM) does not provide a complete picture of the market's health, but the available information points to a balanced market where neither supply nor demand overwhelmingly dominates. Landlords should maintain properties in good condition and keep rents competitive to attract and retain tenants, as the market appears to be sensitive to pricing and quality.
In summary, Wingate's real estate market is characterized by a strong rental sector that aligns with federal guidelines, suggesting a healthy demand for rental units. The median home value indicates a somewhat expensive homeownership market, which could contribute to the persistent rental demand. For landlords and small-portfolio investors, Wingate presents an opportunity to capitalize on a vibrant rental market while maintaining a keen eye on property management practices to ensure profitability and tenant satisfaction.
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.