Location: Scotland County, NC | Metro: Richmond County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
ZIP 28363, located in Scotland County, NC, serves as a strong diversifier within a Section 8 portfolio strategy. With a median income of $53,269, this area has a significant renter share of 17.6%. This indicates a robust demand for rental properties, particularly those that cater to low-income families through the Section 8 program.
The median home value in ZIP 28363 stands at $133,673, which is notably lower than the Fair Market Rent (FMR) of $930 for the metro area in fiscal year 2026. The discrepancy suggests that while appreciation potential might be limited due to the lack of recent market trends indicating significant growth, the area offers a stable cash flow for investors. The recent median sale price of homes in 28363 was $280K, showing a decrease of 39.1% since last year. This decline points to a market that is not experiencing rapid appreciation, making it less suitable as an appreciation play.
The long days on market (DOM) for some properties, such as 159 Beaverdam Church Rd which took 384 days to sell, further supports the idea that ZIP 28363 is better suited as a diversifier rather than an appreciation play. These conditions create a scenario where landlords and small-portfolio investors can find affordable properties to manage, leveraging the steady rental demand to ensure consistent cash flow.
In summary, ZIP 28363 should be considered as a diversifier in a Section 8 portfolio strategy, thanks to its substantial renter share and stable income levels, despite the current downward trend in home prices and longer DOM periods. This approach allows investors to balance their portfolios with areas offering reliable returns and demand for subsidized housing.
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.