Location: Pinehurst-Southern Pines, NC | Metro: Pinehurst-Southern Pines, NC MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $2,060 |
| 5 Bedrooms | $2,390 |
| 6 Bedrooms | $2,677 |
| 7 Bedrooms | $2,891 |
| 8 Bedrooms | $3,036 |
The Fair Market Rent (FMR) for ZIP code 28388 in fiscal year 2026 is set at $1,360. This figure represents the payment standard for Section 8 housing vouchers, which means it's the maximum amount the government will pay landlords for renting out properties under this program. It's important to note that this is not the total rent you can charge your tenant; it's the reimbursement limit.
When comparing this FMR to the local average rent, which is currently N/A, it becomes clear that the government's payment standard is likely to be lower than what you might typically charge for a market-rate rental property. However, this does not necessarily mean a loss in income, as tenants are required to contribute a portion of their income towards rent, usually 30% of their adjusted gross income.
The demand for rental properties in ZIP 28388 is strong, with N/A% of the population being renters. This indicates a significant portion of the community relies on rental housing, including those who may benefit from Section 8 vouchers.
Acquiring a rental property in this area can vary in cost, but the median home value in ZIP 28388 is N/A. This figure gives you an idea of the investment required to enter the market. However, remember that the profitability of a Section 8 rental is not solely based on the purchase price, but also on the ongoing maintenance and management costs.
Before you decide to accept a Section 8 tenant, it's crucial to verify that your property meets the Housing Quality Standards (HQS). These standards ensure that the property is safe and habitable, and failure to meet them could result in disqualification from the program. The inspection process is thorough and covers everything from structural integrity to safety features like smoke detectors.
In summary, while the FMR of $1,360 sets a limit on government reimbursement, the strong demand for rentals and the additional contribution from tenants can make Section 8 a viable option for landlords in ZIP 28388. Just ensure your property is HQS compliant before proceeding.
Data Sources: FMR data from HUD (2027).
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.