Location: Bladen County, NC | Metro: Pender County, NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 28435 in Bladen County, North Carolina, reveals several key points regarding its viability for rental investment.
The first question concerns whether the rent math works. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1230, which significantly exceeds the market rent reported by the Census ACS at $578. This discrepancy suggests that landlords might struggle to find tenants willing to pay the higher FMR, indicating that the rent math does not favorably align with current market conditions.
Regarding the affordability of property acquisition, the median home value in ZIP 28435 is $251,216. However, the lack of data on the average number of days on market (DOM) and the percentage of homes requiring price cuts before sale means there's insufficient information to fully assess how competitive the purchase price might be. This ambiguity leaves the acquisition cost as a mixed variable, depending on negotiation and market conditions at the time of purchase.
Tenant demand is another critical factor. With a total population of 1,889, only 10.6% of residents are renters. This low renter share implies limited tenant demand, making it challenging to fill vacancies and sustain consistent rental income.
Verdict: ZIP 28435 presents a challenging environment for rental investments due to the substantial gap between the FMR and market rent, indicating potential difficulties in attracting tenants. Additionally, the modest tenant demand coupled with an unclear picture of property acquisition costs suggests that landlords and small-portfolio investors should proceed with caution. While the median home value provides a baseline for investment consideration, the overall economic conditions and low renter share make the area less favorable for immediate rental income generation compared to other areas with higher tenant demand and closer alignment between FMR and market rents.
Data Sources: FMR data from HUD (2027). 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.