Section 8 Fair Market Rent (FMR) for ZIP 28431 - 2027

Location: Columbus County, NC | Metro: Columbus County, NC

Investment Score for ZIP 28431

N/A

Monthly Rent (2BR)

$1,010

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$860
1 Bedroom	$860
2 Bedrooms	$1,010
3 Bedrooms	$1,210
4 Bedrooms	$1,330
5 Bedrooms	$1,543
6 Bedrooms	$1,728
7 Bedrooms	$1,866
8 Bedrooms	$1,959

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,210	$183,100	0.66%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

5,901

Median Household Income

$40,888

Housing Units

3,279

Renter Percentage

33.7%

Occupancy Rate

86.5%

Renter Occupied

955

The median income in ZIP code 28431 stands at $40,888, which places significant constraints on the financial capacity of households to cover rental expenses. At a market rate of $767 per month, as reported by the Census ACS, it becomes evident that many residents may struggle to meet their housing costs. This is particularly true when considering the federal payment standard for Section 8 vouchers, which is set at $930 for the fiscal year 2026. The disparity between the market rate and the voucher standard highlights an affordability gap that could impact both tenants and landlords.

Market Rate vs Voucher Standard: While the market rate is $767, the voucher standard is higher at $930. This means that for those who qualify for Section 8 assistance, the government will pay a higher rate towards their housing, potentially making these units more attractive to landlords.
Rental Market Composition: With 33.7% of the 5,901 population being renters, there is a notable segment of the community seeking affordable housing options. This demographic mix suggests that competition among landlords for tenants is likely to be high, especially given the financial pressures faced by many households.

The affordability gap means that landlords might face challenges in attracting cash-paying tenants willing to cover the market rate without subsidy. However, focusing on accepting Section 8 vouchers could provide a steady stream of tenants, albeit at a slightly lower rate than the voucher standard allows. Landlords should consider the stability and reliability of voucher payments versus the risk of non-payment or late payment from cash-paying tenants.

In conclusion, for landlords and small-portfolio investors, the decision to accept Section 8 vouchers over cash-paying tenants can be strategic. Given the median income and the high voucher payment standard, landlords may find that voucher tenants offer a more predictable and stable rental income, despite the potential for slightly reduced rates compared to the market average. This approach can help navigate the competitive rental landscape in ZIP 28431 effectively.

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.