Location: Columbus 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)
The analysis for Section 8 properties in ZIP code 28456 is centered around the disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR stands at $860, while the Census American Community Survey (ACS) indicates that the market rent is $785. This creates a gap of $75, which represents approximately 9.6% of the market rent.
Given that the FMR exceeds the market rent, landlords and small-portfolio investors should view this ZIP code as a potential yield play. The higher FMR means that voucher tenants can pay up to $860 per month, which is above the current market rate. This makes it financially advantageous for property owners to accept Section 8 vouchers, as they can potentially charge more than what the typical rental market offers.
In ZIP 28456, only 15.3% of residents are renters, indicating a relatively low demand for rental properties. However, the median home value is $191,917, and the median income is $49,670, suggesting that homeownership is a significant factor in the local economy. These figures imply that there is a segment of the population that may struggle to afford homeownership and rely on rental properties, including those supported by Section 8 vouchers.
Accepting Section 8 tenants at rates above the market can be a strategic move for landlords looking to maximize their returns. It also provides an opportunity to serve a community that might otherwise face difficulties finding affordable housing. With the FMR being higher than the market rent, landlords can expect a stable source of income that is competitive with or even surpasses the open-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.