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 | $1,790 |
| 1 Bedroom | $1,860 |
| 2 Bedrooms | $2,030 |
| 3 Bedrooms | $2,480 |
| 4 Bedrooms | $3,150 |
| 5 Bedrooms | $3,654 |
| 6 Bedrooms | $4,092 |
| 7 Bedrooms | $4,419 |
| 8 Bedrooms | $4,640 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,860 | $109,552 | 1.7% | A+ |
| 2BR | $2,030 | $255,462 | 0.79% | D |
| 3BR | $2,480 | $329,091 | 0.75% | D |
| 4BR | $3,150 | $397,402 | 0.79% | D |
U.S. Census Bureau data (2024)
1730 is the Fair Market Rent (FMR) for ZIP code 28217 in Charlotte, NC, for fiscal year 2024. 1627 is the actual market rent, known as ZORI, indicating that properties priced at the FMR threshold are slightly above what tenants typically pay. 328513 represents the median home value in the area, suggesting a moderately priced housing market. 70.0% is the proportion of residents who are renters, highlighting a strong demand for rental properties. 64028 is the median income in the area, which is crucial for understanding the financial capacity of potential tenants. The day DOM (days on market) figure is not available, but 0.3% is the price-cut share, implying that few listings need to reduce their asking price to attract buyers. This combination of data points reveals a robust rental market with a high demand for affordable housing. Landlords and small-portfolio investors can capitalize on the discrepancy between the FMR and ZORI, positioning themselves to attract Section 8 tenants while maintaining competitive rents. Given the high renter share and moderate home values, Section 8 properties in ZIP 28217 can be profitable and stable investments. The verdict for Section 8 properties in this area is positive, with favorable conditions for both landlords and tenants.
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.