Section 8 Fair Market Rent (FMR) for ZIP 28404 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 28404, located in North Carolina, is an area that requires careful consideration for real estate investment, particularly for Section 8 properties. This region's housing market dynamics provide both opportunities and challenges for landlords and small-portfolio investors.

• The Fair Market Rent (FMR) for ZIP 28404 for fiscal year 2024 is set at $1520, which represents the maximum amount that can be charged for a Section 8 voucher holder.
• The market rent for the area is currently N/A, indicating a lack of recent data on what the typical rental rates are outside of government assistance programs.
• The median home value in ZIP 28404 is N/A, suggesting that there might be limited information available on residential property values in the area.
• The percentage of residents who are renters is N/A, meaning that the proportion of the population relying on rental housing is not well-documented, which could affect demand.
• The Days on Market (DOM) for listings in the area is N/A, indicating that there isn't sufficient data to determine how quickly homes are being sold or rented.
• The median household income for ZIP 28404 is N/A, highlighting a gap in understanding the economic conditions that could influence tenant stability and rental payment reliability.

Given the data points available for ZIP 28404, it is evident that the area presents a niche opportunity for Section 8 real estate investments, especially considering the established Fair Market Rent. However, the lack of comprehensive data on market rents, median home values, renter share, DOM, and median income introduces significant uncertainty. Investors should proceed with caution, focusing on properties that can be rented out at the FMR level and preparing for potential fluctuations in demand and tenant behavior due to incomplete market insights.

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.