Location: Richmond County, NC | Metro: Richmond 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 | $790 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,050 | $119,596 | 0.88% | C |
| 3BR | $1,400 | $203,155 | 0.69% | D |
| 4BR | $1,590 | $288,971 | 0.55% | F |
U.S. Census Bureau data (2024)
950 is the Fair Market Rent (FMR) for ZIP 28379 in Rockingham, NC, as set by HUD for metro FY 2026, indicating the maximum amount a Section 8 voucher holder can pay for housing in the area. 802 is the average market rent reported by the Census Bureau's American Community Survey, suggesting that properties priced at the FMR level are slightly above the local average, providing a margin for landlords. 135,669 represents the median home value in the area, which is significantly higher than the average market rent, implying that rental properties can be a lucrative investment relative to the cost of homeownership. 35.5 is the percentage of households that are renters, demonstrating a substantial demand for rental properties in Rockingham. 49,149 is the median income figure, which is lower than both the FMR and median home value, reinforcing the importance of affordable rental options for many residents. 61 days is the typical time on the market (DOM) for rental listings, showing that there is a moderate competition among landlords to attract tenants. 0.2 is the percentage of listings that have been price-cut, indicating that landlords generally do not need to reduce their asking rents to find tenants, suggesting a stable rental market. Given these figures, landlords and small-portfolio investors in Rockingham, NC should consider Section 8 participation as a viable strategy for ensuring steady occupancy and cash flow, especially for properties priced near the FMR. The relatively low median income and high renter share make Section 8 vouchers particularly attractive to potential tenants. Moreover, the stability indicated by the low price-cut share and moderate DOM suggests that the market can support consistent rental income. Verdict: Section 8 is a strong option for securing reliable tenants in ZIP 28379.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.