Location: Pinehurst-Southern Pines, NC | Metro: Hoke County, NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $2,060 |
| 5 Bedrooms | $2,390 |
| 6 Bedrooms | $2,677 |
| 7 Bedrooms | $2,891 |
| 8 Bedrooms | $3,036 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 28315, which encompasses Aberdeen in Moore County, North Carolina, operate under specific guidelines that impact both landlords and tenants. For a two-bedroom unit in this ZIP code, the SAFMR (Small Area Fair Market Rent) for fiscal year 2024 is set at $890. This figure is important because it represents the maximum amount that the Section 8 program will pay for rent in this specific ZIP code.
In contrast, the local market rent for a similar two-bedroom unit is significantly higher at $1,541, as indicated by the ZORI (Zillow Observed Rent Index). This difference highlights the disparity between the market rate and the subsidized rate, which can be a point of concern for landlords. However, the SAFMR is not the only factor in determining the total payment to landlords.
A Section 8 voucher pays the difference between the tenant's portion of the rent and the SAFMR, plus any applicable utility allowances. The tenant is typically responsible for paying 30% of their adjusted income towards rent. If we assume an average adjusted income for a tenant in this area, the calculation would proceed as follows:
Suppose a tenant has an adjusted income of $1,000 per month. Their portion of the rent would be $300 (30% of $1,000). With a SAFMR of $890, the remaining $590 would come from the Section 8 program. Utility allowances vary but generally add about $200-$300 to the monthly payment. Thus, a landlord could expect to receive around $790-$890 per month from the combination of the tenant's contribution and the Section 8 subsidy.
This amount is less than the market rate of $1,541, creating a significant gap between the actual rental cost and the subsidized rate. The reimbursement gap for a two-bedroom unit in ZIP 28315 would therefore be approximately $651-$751 per month, depending on the exact utility allowance and tenant's income.
To summarize, landlords in ZIP 28315 must understand that the SAFMR of $890 sets a cap on what the government will subsidize for a two-bedroom unit. While the program also covers a portion of utilities, the overall payment received will likely fall short of the local market rent of $1,541. As such, landlords should prepare for a reimbursement gap of roughly $651-$751 per month, unless they manage to secure a tenant with a higher adjusted income or if utility allowances exceed the lower end of the range.
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.