Location: Pender County, NC | Metro: Jacksonville, NC MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,450 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,840 |
| 3 Bedrooms | $2,550 |
| 4 Bedrooms | $3,080 |
| 5 Bedrooms | $3,573 |
| 6 Bedrooms | $4,002 |
| 7 Bedrooms | $4,322 |
| 8 Bedrooms | $4,538 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,550 | $263,779 | 0.97% | C |
| 4BR | $3,080 | $388,584 | 0.79% | D |
U.S. Census Bureau data (2024)
The median income in ZIP code 28454 stands at $73,015, providing a baseline for evaluating rental affordability. At the market rate of $1,558 per month, a household would need to allocate approximately 26% of their annual income towards rent. This is a significant portion but remains within reasonable limits for many families.
In contrast, the Fair Market Rent (FMR) for voucher payments in ZIP 28454 for fiscal year 2024 is set at $1,170. This represents a substantial difference from the market rate, indicating that voucher holders might find it challenging to cover the full cost of market-rate rentals without additional financial assistance.
The ZIP code has a relatively low percentage of renters at 17.8%, with a total population of 2,895. This suggests a competitive environment for landlords seeking tenants, especially those who rely solely on market-rate rents. The disparity between the market rate and the FMR could lead to increased competition among landlords willing to accept vouchers.
The affordability gap highlights the importance of considering both cash-paying and voucher tenants. For landlords, accepting vouchers means potentially receiving a lower monthly rent of $1,170 compared to the market rate of $1,558. However, this strategy ensures a steady stream of income and reduces vacancy rates, which can be beneficial in a market where finding tenants is already a challenge due to the low percentage of renters.
Landlords should weigh the benefits of each approach carefully. While cash-paying tenants offer higher immediate returns, the reliability of voucher payments can provide a stable financial base. In ZIP 28454, the decision to prioritize one type of tenant over the other should be based on understanding the local rental dynamics and the willingness to adapt to the needs of the community.
Takeaway: Landlords in ZIP 28454 must consider the balance between higher market-rate rents and the stability offered by voucher programs. Given the competitive landscape and the affordability gap, being flexible and open to both strategies will likely yield the best results in securing long-term, reliable tenancy.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.