Location: Brunswick County, NC | Metro: Brunswick County, NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,120 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
U.S. Census Bureau data (2024)
1040 is the Fair Market Rent (FMR) set by HUD for ZIP code 28452 for fiscal year 2024, indicating the maximum rental assistance payment for units in this area. 699 is the average market rent reported by the Census Bureau's American Community Survey, which is significantly below the FMR, suggesting a potential gap where landlords can receive higher rents through Section 8 programs. The median home value is not available, which means we cannot directly compare it against the rental values, but the high percentage of renters at 39.9% implies a strong demand for rental properties in the area. This high renter share further supports the idea that there are many individuals seeking housing assistance, making Section 8 a viable option for landlords. The median income data is also not available, which could be a critical factor in determining the financial eligibility of tenants applying for Section 8. However, the absence of median days on market (DOM) and the percentage of price-cut shares suggests a stable rental market without significant fluctuations or prolonged vacancies, beneficial for maintaining steady cash flow. In conclusion, given the disparity between the 699 market rent and the 1040 FMR, landlords in ZIP code 28452 can leverage Section 8 to secure higher rental incomes compared to the local market rates.
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.