Location: Columbus County, NC | Metro: Bladen County, NC
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,390 | $212,651 | 0.65% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 28320, located in Columbus County, NC, reveals several key points for potential landlords and small-portfolio investors.
Firstly, the rent math does not work favorably. The Fair Market Rent (FMR) for the area is set at $930 per month for fiscal year 2026, while the actual market rent based on Census ACS data is only $756. This indicates that landlords might struggle to achieve rents at the FMR level, potentially leading to lower revenue than expected.
Secondly, acquisition is relatively affordable given the median home value stands at $136,660. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts suggests that the local real estate market's liquidity and pricing dynamics are unclear. This uncertainty can affect how easily properties can be bought and sold, impacting investment flexibility.
Lastly, there is a moderate tenant demand in ZIP 28320. With a population of 7,962 and 28.1% of residents being renters, there is a consistent base of potential tenants. However, the demand is not exceptionally high, which means competition among landlords could be significant, putting further pressure on rental pricing.
In summary, while the acquisition cost appears reasonable, the mismatch between FMR and market rent, along with the moderate tenant demand, presents challenges for achieving optimal returns. Landlords should carefully consider these factors before investing in this ZIP code.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.