Location: Charlotte-Concord-Gastonia, NC | Metro: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,690 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $1,920 |
| 3 Bedrooms | $2,340 |
| 4 Bedrooms | $2,980 |
| 5 Bedrooms | $3,457 |
| 6 Bedrooms | $3,872 |
| 7 Bedrooms | $4,182 |
| 8 Bedrooms | $4,391 |
U.S. Census Bureau data (2024)
The ZIP code 28223 presents a unique snapshot of the rental market, with a Fair Market Rent (FMR) set at $1650 for the fiscal year 2024. This figure is critical for landlords and small-portfolio investors who aim to align their rental pricing with government guidelines designed to ensure affordability while maintaining profitability.
Absent specific data on market rent, days on market (DOM), and the median home value, it's challenging to definitively state whether supply outpaces demand or vice versa. However, the absence of these figures suggests that the market in ZIP 28223 might be less competitive or well-documented compared to other areas. This could indicate a smaller landlord community or a lack of comprehensive market analysis, which might mean there are fewer properties listed at any given time, leading to a potentially tighter rental market.
The percentage of renters and the percentage of price-cut share are also not provided, leaving gaps in understanding the immediate competition and urgency of finding tenants. A higher renter share typically indicates long-term housing pressure, suggesting that a significant portion of the population prefers or requires renting over homeownership. In ZIP 8223, without this percentage, we cannot make a direct inference about the long-term housing dynamics but can surmise that the rental market plays a pivotal role in accommodating residents, especially if homeownership rates are low.
In conclusion, while the specific dynamics of ZIP 28223 are somewhat obscured by the lack of detailed market data, the FMR provides a solid benchmark for rental pricing. The rental market here seems to be a key component of the housing landscape, though the exact balance between supply and demand remains unclear. Landlords should keep an eye on local trends and adjust their strategies accordingly to stay competitive and profitable.
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.