Section 8 Fair Market Rent (FMR) for ZIP 28207 - 2027

Location: Charlotte-Concord-Gastonia, NC | Metro: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area

Investment Score for ZIP 28207

Monthly Rent (2BR)

$1,960

Median Price (2BR)

$397,351

1% Rule

0.49%

Annual Yield

5.92%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,730
1 Bedroom	$1,800
2 Bedrooms	$1,960
3 Bedrooms	$2,390
4 Bedrooms	$3,040
5 Bedrooms	$3,526
6 Bedrooms	$3,949
7 Bedrooms	$4,265
8 Bedrooms	$4,478

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,800	$231,870	0.78%	D
2BR	$1,960	$397,351	0.49%	F
3BR	$2,390	$1,442,405	0.17%	F
4BR	$3,040	$2,320,986	0.13%	F
5BR	$3,526	$3,268,397	0.11%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

9,527

Median Household Income

$217,204

Housing Units

4,527

Renter Percentage

16.1%

Occupancy Rate

91.2%

Renter Occupied

664

The analysis of ZIP code 28207 in Charlotte, NC reveals several key insights for landlords and small-portfolio investors.

The rent math does not align favorably. The Fair Market Rent (FMR) for FY 2024 is set at $1710, while the actual market rent, as measured by ZORI, stands significantly higher at $2,539. This discrepancy means that landlords relying solely on Section 8 vouchers will find it challenging to cover their expenses at the current market rates.
Acquisition in this area is moderately priced. With a median home value of $1,606,993, purchasing properties might be feasible for some investors, especially considering the low percentage of homes needing price cuts (0.2%) and the absence of a typical number of days on the market (DOM).
Tenant demand is limited but present. The ZIP code has a total population of 9,527, with 16.1% being renters. This suggests a smaller pool of potential tenants compared to areas with a higher renter share, which could impact the speed and ease of finding new occupants.

In summary, ZIP 28207 presents a mixed picture for Section 8 landlords and small-portfolio investors. While the acquisition cost is reasonable, the disparity between the FMR and market rent indicates a need for additional income sources beyond Section 8 vouchers to ensure profitability. Additionally, the relatively low renter share suggests that securing tenants may require more effort. Therefore, careful consideration and strategic planning are essential before investing in this area.

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.