Location: Fayetteville, NC | Metro: Fayetteville, NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
52.9% of residents in ZIP code 28331 are renters, indicating a strong demand for rental properties in the area. $1290 is the Fair Market Rent (FMR) for the zip code for fiscal year 2024, which sets the benchmark for rental prices under the Section 8 program. Despite the high percentage of renters, the market rent remains unspecified, suggesting a lack of comprehensive data on actual rental rates. Similarly, the median home value is also not available, making it difficult to assess the overall property values in the area. The median income figure is also missing, which would have been useful for understanding the economic profile of the tenants. The days on market (DOM) and the percentage of price-cut shares are both marked as N/A, implying that there isn't enough data to provide insights into how quickly properties are being rented out or if landlords are frequently having to reduce their asking prices. Given the high renter share and the established FMR, landlords and small-portfolio investors should be prepared to offer competitive rental rates to attract tenants who qualify for Section 8 assistance. However, the absence of key market indicators such as median home value and median income introduces an element of uncertainty into investment decisions. In conclusion, while the potential tenant pool is substantial, the limited availability of market-specific data necessitates a cautious approach. For ZIP 28331, the Section 8 program presents a viable opportunity but requires thorough local market research to navigate 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.