Section 8 Fair Market Rent (FMR) for ZIP 28308 - 2027

Location: Fayetteville, NC | Metro: Fayetteville, NC HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,300
1 Bedroom	$1,320
2 Bedrooms	$1,490
3 Bedrooms	$1,990
4 Bedrooms	$2,430
5 Bedrooms	$2,819
6 Bedrooms	$3,157
7 Bedrooms	$3,410
8 Bedrooms	$3,581

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

323

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

N/A

Renter Occupied

The rental market in ZIP code 28308 presents a unique challenge for both renters and landlords due to limited data on median income and market rates. However, focusing on the available information, we can still draw some conclusions.

Affordability is a critical issue when considering the Fair Market Rent (FMR) set at $1270 for the fiscal year 2024. This figure represents the standard payment amount for housing vouchers in the area. Given the lack of median income data, it's difficult to assess how typical households fare against this benchmark. Nonetheless, the FMR provides a clear guideline for what subsidized renters can afford.

Voucher Payment Standard: At $1270, the voucher payment aligns closely with the lower end of what might be considered affordable in a typical rental market. This suggests that landlords who accept vouchers should expect rents around this figure.
Rental Competition: With a population of 323 and an unspecified percentage of renters, competition among landlords could be fierce if the number of rental units exceeds the demand. Landlords need to be mindful of their pricing strategies to attract tenants.

The affordability gap, even without specific median income figures, implies that landlords must balance between accepting vouchers at the fixed rate of $1270 and setting higher market rates for non-subsidized tenants. The decision hinges on the local demand for rental properties and the willingness of renters to pay above the voucher rate.

Takeaway: For landlords, the key strategy lies in understanding the local tenant mix. If the majority of potential renters rely on housing vouchers, then setting rents close to $1270 will ensure occupancy. Conversely, if there is a significant portion of the population capable of paying market rates, landlords can charge more but must also be prepared for increased competition. In either case, transparency and alignment with the FMR will help landlords navigate the rental landscape effectively.

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.