Location: Sampson County, NC | Metro: Raleigh-Cary, NC MSA
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 | $1,060 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,220 | $153,048 | 0.8% | D |
| 3BR | $1,500 | $224,592 | 0.67% | D |
| 4BR | $1,980 | $307,889 | 0.64% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 28366, located in Newton Grove, NC, within the Sampson County, NC metro area, reveals several key points regarding its viability for Section 8 real-estate investment.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for ZIP 28366 in fiscal year 2024 is set at $1280. However, the current market rent, as reported by the Census ACS, stands at $948. This indicates that the FMR exceeds the market rent by approximately $332 per month, suggesting that landlords can expect to receive higher rents through Section 8 than what the market currently offers.
Regarding the affordability of acquisition, the median home value in ZIP 28366 is $168,824. While the average number of days on the market (DOM) and the percentage of homes that required a price cut before selling are not available, the relatively low median home value suggests that purchasing properties in this area is financially feasible for most investors. This makes it easier to acquire properties without incurring significant debt.
The third consideration is tenant demand. With a total population of 3,769, the ZIP code has a 21.8% renter share. This means that roughly 820 residents are potential tenants. Given the size of the population and the percentage of renters, there is a stable demand for rental properties, which ensures a steady stream of applicants for Section 8 housing.
In conclusion, ZIP 28366 presents a favorable environment for Section 8 real-estate investment. The rent math works in favor of landlords due to the discrepancy between the FMR and market rent, making it possible to earn above-market rates. The acquisition cost is reasonable, with a median home value well below the national average, reducing the financial burden of property purchase. Lastly, the tenant demand is sufficient, supported by a consistent renter share of the population. These factors collectively suggest that Newton Grove, NC, is a promising location for those looking to invest in Section 8 housing.
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.