Location: Robeson County, NC | Metro: Robeson 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 | $810 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $810 | $59,277 | 1.37% | A |
| 2BR | $1,010 | $89,330 | 1.13% | B |
| 3BR | $1,290 | $153,884 | 0.84% | C |
| 4BR | $1,510 | $250,628 | 0.6% | D |
| 5BR | $1,752 | $318,800 | 0.55% | F |
U.S. Census Bureau data (2024)
The ZIP code 28358, located in Lumberton, North Carolina, presents a unique set of challenges and opportunities for landlords and small-portfolio investors. The median household income in this area stands at $48,467, which is crucial when considering the local rental market.
The market rate for rentals, known as the ZORI (Zillow Observed Rent Index), is $1,175. This figure represents the average cost of renting a home in the area. However, it is important to note that the Federal Market Rent (FMR) for the metro area for fiscal year 2026 is set at $930. This discrepancy highlights the affordability gap faced by many renters in Lumberton.
With 43.5% of the population being renters and a total population of 33,071, there is a significant demand for housing. Yet, the disparity between the median income and the market rate suggests that a substantial portion of these potential tenants may struggle to afford the average rental price. This makes the FMR, which is lower than the market rate, an attractive option for many households.
The implications for landlords are clear. While charging the market rate of $1,175 might seem lucrative, it could limit the pool of potential tenants who can afford such rents. On the other hand, accepting voucher payments at the FMR rate of $930 ensures a steady stream of tenants but reduces the rental income per unit.
The takeaway for landlords and small-portfolio investors is to carefully consider their strategy based on the local economic conditions. Accepting vouchers can help secure occupancy rates, which is beneficial for maintaining cash flow and reducing vacancy periods. However, if the goal is to maximize rental income, then targeting a smaller segment of higher-income renters or improving property values to justify higher rents may be necessary. Balancing between voucher acceptance and cash-paying tenants will depend on the individual landlord's financial goals and risk tolerance.
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.