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 |
|---|---|---|---|---|
| 2BR | $1,010 | $102,694 | 0.98% | C |
| 3BR | $1,290 | $190,688 | 0.68% | D |
| 4BR | $1,510 | $262,106 | 0.58% | F |
U.S. Census Bureau data (2024)
The Section 8 thesis in ZIP code 28360, centered around Lumberton, NC, is defined by the significant gap between the Fair Market Rent (FMR) set at $930 for the metro area in fiscal year 2026 and the actual market rent of $749 based on Census ACS data. This represents a gap of $181, or approximately 19.3%, indicating that the FMR is higher than the market rent.
This scenario makes properties in ZIP 28360 a compelling yield play for landlords and small-portfolio investors. The higher FMR allows landlords to charge voucher tenants closer to $930 per month, which is above the current market rate. As a result, landlords can potentially increase their rental income without facing the typical challenges of finding tenants willing to pay above the market rate.
In Lumberton, where 27.2% of residents are renters and the median home value stands at $183,401, the opportunity to leverage Section 8 vouchers becomes even more attractive. The median income of $46,598 suggests that many local residents would benefit from the financial assistance offered through the housing voucher program. By accepting Section 8 tenants, landlords can tap into a reliable source of rental payments guaranteed by the government, ensuring steady cash flow.
However, it's crucial to understand the implications of this gap. While the higher FMR provides an opportunity for increased yields, landlords must also consider the potential costs associated with housing voucher tenants. These costs might include administrative burdens, compliance requirements, and the need for regular inspections to maintain eligibility for the program. Despite these considerations, the financial advantage of receiving higher rent payments compared to the open-market rate makes this a favorable investment strategy in Lumberton, NC.
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.