Location: Charlotte-Concord-Gastonia, NC | Metro: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,670 |
| 1 Bedroom | $1,740 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,310 |
| 4 Bedrooms | $2,940 |
| 5 Bedrooms | $3,410 |
| 6 Bedrooms | $3,819 |
| 7 Bedrooms | $4,125 |
| 8 Bedrooms | $4,331 |
To profile ZIP code 28241 in North Carolina as a Section 8 tenant pool, we must first acknowledge that specific demographic data such as population size, percentage of renters, and median household income is currently unavailable. This lack of detail makes it challenging to definitively state whether this area is renter-heavy with deep voucher demand or dominated by homeowners with fewer vouchers.
However, we can analyze the situation based on the available information. The Fair Market Rent (FMR) for the area is set at $1650 for fiscal year 2024, which serves as a benchmark for comparing rental prices and income levels. Without the exact median household income, we cannot calculate precisely how much of the local income is typically consumed by rent. Nonetheless, understanding that the FMR is a guideline for affordable housing, landlords can expect that many tenants will be seeking units within or below this price point.
The presence of Section 8 vouchers in an area is indicative of a significant portion of the population relying on government assistance to meet their housing needs. Given the FMR of $1650, landlords should anticipate that a substantial number of potential tenants will have incomes that necessitate the use of vouchers to afford housing. This suggests that the ZIP code likely has a tenant pool that heavily depends on subsidies to cover rent, especially if the area is indeed renter-heavy as implied by the need for analysis.
In conclusion, while the precise demographics of ZIP 28241 remain unknown, the reliance on Section 8 vouchers points towards a community where affordable housing is a critical issue. Landlords should prepare for a tenant base that requires subsidized housing options, with rents aligning closely to or under the $1650 FMR. This tenant profile emphasizes the importance of compliance with HUD regulations and the necessity for properties to meet certain standards to qualify for Section 8 tenancy.
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.