Section 8 Fair Market Rent (FMR) for ZIP 28231 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 28231, located in the Charlotte-Concord-Gastonia area of North Carolina, presents unique characteristics that distinguish it from other regions. The lack of specific demographic data such as resident count, percentage of renters, median income, and median home value indicates that this ZIP code might be underreported or has limited available statistics, which could suggest a smaller, less densely populated area.

Moving into the specifics of Section 8 housing economics, the Fair Market Rent (FMR) for ZIP 28231 is set at $1650 for the fiscal year 2024. This figure is crucial for landlords and small-portfolio investors as it defines the maximum rent allowed for units participating in the Section 8 program. However, without comparable market rent data, it's challenging to assess how the FMR aligns with local rental trends. Typically, understanding this relationship helps determine if the ZIP code offers a financially viable environment for Section 8 properties.

Given the absence of detailed demographic and market rent information, the data signature for ZIP 28231 reads as transitional. This means the area may be experiencing changes in population dynamics, economic conditions, or housing market trends that could impact the stability and demand for Section 8 housing. Landlords and investors should keep an eye on emerging data points to make informed decisions about property investments in this region.

Data Sources: FMR data from HUD (2027).

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.