Location: Robeson County, NC | Metro: Hoke County, NC HUD Metro FMR Area
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 | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $47,195 | 2.14% | A+ |
| 3BR | $1,320 | $108,269 | 1.22% | A |
| 4BR | $1,570 | $242,397 | 0.65% | D |
U.S. Census Bureau data (2024)
ZIP code 28377, located in Red Springs, NC, falls within the Robeson County, NC metro area. The Fair Market Rent (FMR) for ZIP 28377 in fiscal year 2024 is set at $860. This figure is higher than the average market rent of $673, indicating that the government's estimate of what is considered fair rent exceeds the actual market rate in this area.
The median home value in ZIP 28377 is $104,505, which is notably lower than the typical home values in other ZIP codes within Robeson County. Additionally, the renter share in ZIP 28377 stands at 32.9%, which is also below the average renter share for the county. These figures suggest that 28377 is likely a value pocket within its metro area. Landlords and small-portfolio investors can find opportunities here where the cost of investment is relatively low compared to other areas within the same county.
The high FMR relative to the market rent indicates that tenants receiving Section 8 housing assistance could potentially afford higher rents than the current market rate allows. This creates a favorable environment for landlords who can charge closer to the FMR without deterring Section 8 tenants. The combination of a below-average home value and a significant renter share makes ZIP 28377 particularly attractive for those looking to capitalize on Section 8 opportunities.
To further contextualize, let’s consider the implications for landlords and investors:
A lower median home value means that properties are generally less expensive to acquire, making it easier to enter the market with a smaller capital outlay.
A higher FMR than market rent suggests that there is room to increase rental income without losing tenants who rely on Section 8 vouchers.
The substantial renter share points towards a stable demand for rental properties, reducing the risk of vacancy.
In summary, ZIP code 28377 represents a value pocket within the Robeson County, NC metro, offering affordable property acquisition costs and a strong potential for Section 8 tenants willing to pay closer to the FMR. This makes it an advantageous location for landlords and small-portfolio investors seeking to maximize returns while minimizing risks.
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.